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.