The Arbitration Bill 2023 was passed by the National Assembly of the 12th Parliament on Friday, May 17th marking a significant milestone in Guyana’s efforts to modernize its arbitration framework.
The bill, presented by Attorney General Anil Nandlall SC, aims to create a more attractive destination for arbitration in the region and beyond. According to Nandlall, the bill is designed to “update the legal architecture to accommodate Guyana’s rapid economic growth” and provide a fair and speedy resolution of disputes.
The bill, he said, is based on a CARICOM model, which has been adopted by several countries in the region. It has been consulted on extensively with various stakeholders, including the Bar Association, private sector organizations and the judiciary.
Senior Counsel Roysdale Forde, Minister of Tourism, Industry and Commerce, Oneidge Walrond, and Members of Parliament (MP’s) Geeta Chandan, Sanjeev Datadin and Khemraj Ramjattan, who all took turns responding to the bill, showed their full support. While some expressed concerns about certain provisions, including clause 64, which restricts public access to information about arbitration proceedings involving government entities, others praised the bill as a step towards modernizing Guyana’s legal system. Walrond emphasized that the bill is timely and aligns with Guyana’s trajectory of growth and development. She highlighted the benefits of arbitration, including its speed, efficiency, and cost-effectiveness.
Datadin on the other hand noted that the bill is a fundamental change in the legal landscape and will provide a more efficient and effective way to resolve disputes. Ramjattan, in his turn, fully supported the bill, believing it will have a significant impact on Guyana’s economy and development.
Following these responses, Nandlall addressed concerns raised by his colleagues, arguing that arbitration allows parties to choose their own arbitrators and provides flexibility in terms of costs and proceedings. He further emphasized the importance of maintaining the confidentiality and flexibility of arbitration proceedings.
The bill was then read a third time and passed by the National Assembly.
