Following our previous discussion on OHADAC Arbitration and Mediation, the Caribbean region continues to strengthen its position as a key hub for international arbitration. With legislative modernization, institutional growth, and a strategic location, the region is becoming an increasingly attractive venue for dispute resolution. And let’s be honest – if you had to attend an arbitration hearing, wouldn’t you rather do it in the Caribbean?
A 2021 Arbitration Survey Report asked practitioners to select up to five preferred arbitration seats. The survey found that the most preferred arbitration seats for Latin America and the Caribbean include Paris (64%), New York (54%), São Paulo (21%), Geneva and Singapore (19%), Miami (15%), Lima (6%), and Madrid (5%).[1] Despite the absence of a Caribbean jurisdiction in the rankings, initiatives aimed at strengthening arbitration frameworks and institutions continue to gain momentum.
A Dynamic and Cosmopolitan Region
The Caribbean is a diverse and dynamic region characterised by strong regional cooperation. Notably, the Organisation of Eastern Caribbean States (OECS) and the Caribbean Community (CARICOM) play a key role in enhancing regional trade and fostering legal integration. These organisations include independent states as full members and overseas territories of Western nations as associate members. For instance, this year, Martinique and Saint Martin, both French overseas territories, strengthened their regional ties – Martinique joined CARICOM,[2] while Saint-Martin became an associate member of the OECS.[3]
This interconnected network of nations and overseas territories, linked to major global economies such as the United States, France, the Netherlands, and the United Kingdom, positions the Caribbean as an increasingly attractive venue for international arbitration. Furthermore, the region’s legal systems reflect civil law and common law traditions, providing a flexible and adaptable framework for international arbitration. Modernising legal frameworks to support arbitration and establishing arbitration institutions and hearing centres drive the expansion of international arbitration in the Caribbean.
Caribbean Arbitration Reform: A Race Toward Modernisation and Efficiency
Adopting the UNCITRAL Model Law across the Commonwealth Caribbean marks a significant step toward harmonising arbitration laws with international standards. Countries such as Barbados, Bermuda, Jamaica, the Cayman Islands, the Bahamas, and Trinidad and Tobago have embraced this framework.[4]
The most recent country to have updated its arbitration legislation is Guyana, which aims to become a regional “arbitration hub”.[5] In May 2024, Guyana passed the Arbitration Act 2024 [6], replacing a century-old arbitration framework. This legislation is modelled on the IMPACT Justice Project Model Arbitration Bill, which itself is based on the UNCITRAL Model Law.[7]
Guyana’s new arbitration legislation establishes a pro-arbitration framework, in line with similar reforms across the Caribbean. As stated by Chevish Devonish, the legislation limits national court intervention in arbitration.[8] The text goes even further and provides that “a Court may, by order, refer a matter arising in proceedings before it, other than criminal proceedings, for arbitration if the Court considers the circumstances appropriate and whether or not the parties to the proceedings consent to the referral.” [9] Moreover, courts can grant interim relief, enforce arbitral measures,[10] and assist in summoning witnesses.[11] The Competence-Competence and Separability doctrines are also codified.[12] Additionally, the law ensures that arbitration proceedings remain confidential.[13]
Recently, Justice Persaud reaffirmed Guyana’s pro-arbitration stance, emphasising that “the general approach of the courts to such awards is pro-enforcement”. [14]
Expedited Arbitration: The Drive for Efficiency in the Caribbean
Expedited arbitration is gaining traction in offshore jurisdictions of the Caribbean, particularly in the British Virgin Islands and Bermuda. These jurisdictions have arbitral institutions implementing expedited arbitration rules to enhance efficiency and cost-effectiveness in dispute resolution.
On the one hand, the BVI provides a structured, predictable expedited arbitration framework under the BVI Arbitration Act 2013 and the 2021 BVI IAC Rules. These rules are designed to ensure that the arbitration is conducted in a manner that is “timely and cost-effective.”[15] They provide clear conditions under which expedited proceedings apply, that is to say when disputes involve sums under USD 4 million or when parties agree or if the Arbitration committee finds it appropriate.[16] Furthermore, they feature a sole arbitrator by default,[17] strict timelines (with awards rendered within six months),[18] and other case management tools to reduce delays and costs.[19]
On the other hand, Bermuda’s expedited arbitration regime, governed by the Bermuda International Conciliation and Arbitration Act 1993, is supported by the CIArb Cost-Controlled Expedited Arbitration Rules (“CCEA Rules”). These rules apply automatically to disputes under USD 250,000 and can be adapted for higher-value cases by agreement.[20] Bermuda’s framework ensures cost predictability by capping arbitrator and legal fees.[21] Overall, these rules are also recognised by commentators as providing for a timely and efficient expedition procedure.[22]
Arbitration Institutions and Hearing Centres
Several Caribbean jurisdictions have arbitration institutions administering cases, appointing arbitrators, and operating hearing centers:
British Virgin Islands
- BVI International Arbitration Centre (BVI IAC)
Barbados
Cayman Islands
Cuba
Dominican Republic
- Corte de Arbitraje y Resolución Alternativa de Conflictos de Santo Domingo
- Corte de Arbitraje y Resolución Alternativa de Conflictos (CRC-STI)
Guadeloupe
- OHADAC Regional Arbitration Centre (CARO Centre)
Haiti
Jamaica
Panama
- Centro de Conciliación y Arbitraje (CeCAP)
- Centro de Solución de Conflictos (CESCON)
Trinidad and Tobago
In addition to serving as an appointing authority,[23] the Caribbean Branch Chartered Institute of Arbitrators (CIArb) plays a vital role in promoting arbitration in the Caribbean through training, programming, and professional certifications. CIArb has active branches in Barbados, Trinidad and Tobago, the British Virgin Islands, the Cayman Islands, Jamaica, and Saint Lucia.
Conclusion: The Caribbean as an Emerging Arbitration Hub
While Paris and New York remain dominant arbitration hubs, they are often associated with high costs and backlogs. By contrast, the Caribbean provides a cost-effective, efficient, and legally robust alternative with modern laws and institutional support.
For businesses in the Americas, Caribbean arbitration saves time and money while ensuring enforceability and legal reliability. The region’s growing arbitration recognition and commitment to global standards make it an increasingly attractive dispute resolution choice.
[1] Queen Mary University of London, 2021 International Arbitration Survey: Adapting arbitration to a changing world, 2021, https://www.qmul.ac.uk/arbitration/media/arbitration/docs/LON0320037-QMUL-International-Arbitration-Survey-2021_19_WEB.pdf (last accessed 13 March 2025); see also C. Devonish, The Modernization of Guyana’s Arbitration Regulatory Framework: A Bid to Become an Arbitration Hub, 24 October 2024, https://arbitrationblog.kluwerarbitration.com/2024/10/24/the-modernization-of-guyanas-arbitration-regulatory-framework-a-bid-to-become-an-arbitration-hub/ (last accessed 13 March 2025).
[2] Island Innovation, Martinique Takes Giant Leap Signing CARICOM Accession Agreement, 25 February 2025, https://islandinnovation.co/news/martinique-takes-giant-leap-signing-caricom-accession-agreement/ (last accessed 13 March 2025).
[3] Faxinfo, SOCIETY / Regional cooperation: Saint-Martin is fully involved the OECS, 11 March 2025, https://www.faxinfo.fr/en/societe-cooperation-regionale-saint-martin-sinscrit-pleinement-dans-loeco/ (last accessed 13 March 2025).
[4] A. Gafoor, The Implementation of the UNCITRAL Model Law on Arbitration in the Commonwealth Caribbean, 2(1) The Faculty of Law Journal 8, p. 11.
[5] C. Devonish, The Modernization of Guyana’s Arbitration Regulatory Framework: A Bid to Become an Arbitration Hub, 24 October 2024, https://arbitrationblog.kluwerarbitration.com/2024/10/24/the-modernization-of-guyanas-arbitration-regulatory-framework-a-bid-to-become-an-arbitration-hub/ (last accessed 13 March 2025).
[6] Guyana Act No. 6 of 2024.
[7] C. Devonish, The Modernization of Guyana’s Arbitration Regulatory Framework: A Bid to Become an Arbitration Hub, 24 October 2024, https://arbitrationblog.kluwerarbitration.com/2024/10/24/the-modernization-of-guyanas-arbitration-regulatory-framework-a-bid-to-become-an-arbitration-hub/ (last accessed 13 March 2025).
[8] C. Devonish, The Modernization of Guyana’s Arbitration Regulatory Framework: A Bid to Become an Arbitration Hub, 24 October 2024, https://arbitrationblog.kluwerarbitration.com/2024/10/24/the-modernization-of-guyanas-arbitration-regulatory-framework-a-bid-to-become-an-arbitration-hub/ (last accessed 13 March 2025).
[9] Guyana Act No. 6 of 2024, Section 9(2).
[10] Guyana Act No. 6 of 2024, Sections 10, 28; see also C. Devonish, The Modernization of Guyana’s Arbitration Regulatory Framework: A Bid to Become an Arbitration Hub, 24 October 2024, https://arbitrationblog.kluwerarbitration.com/2024/10/24/the-modernization-of-guyanas-arbitration-regulatory-framework-a-bid-to-become-an-arbitration-hub/ (last accessed 13 March 2025).
[11] Guyana Act No. 6 of 2024, Section 42; see also C. Devonish, The Modernization of Guyana’s Arbitration Regulatory Framework: A Bid to Become an Arbitration Hub, 24 October 2024, https://arbitrationblog.kluwerarbitration.com/2024/10/24/the-modernization-of-guyanas-arbitration-regulatory-framework-a-bid-to-become-an-arbitration-hub/ (last accessed 13 March 2025).
[12] Guyana Act No. 6 of 2024, Section 17; see also C. Devonish, The Modernization of Guyana’s Arbitration Regulatory Framework: A Bid to Become an Arbitration Hub, 24 October 2024, https://arbitrationblog.kluwerarbitration.com/2024/10/24/the-modernization-of-guyanas-arbitration-regulatory-framework-a-bid-to-become-an-arbitration-hub/ (last accessed 13 March 2025).
[13] Guyana Act No. 6 of 2024, Sections 64, 65; see also C. Devonish, The Modernization of Guyana’s Arbitration Regulatory Framework: A Bid to Become an Arbitration Hub, 24 October 2024, https://arbitrationblog.kluwerarbitration.com/2024/10/24/the-modernization-of-guyanas-arbitration-regulatory-framework-a-bid-to-become-an-arbitration-hub/ (last accessed 13 March 2025).
[14] C. Devonish, Decision by Guyana’s High Court recognising a foreign arbitration award against Venezuela augurs well for Guyana’s reputation as an arbitration hub, 12 March 2025, https://oilnow.gy/energy-insights/decision-by-guyanas-high-court-recognising-a-foreign-arbitration-award-against-venezuela-augurs-well-for-guyanas-reputation-as-an-arbitration-hub/ (last accessed 13 March 2025).
[15] P. Ferrer et al., Chapter 17: The Development of Expedited Arbitration in the Offshore Space: An Examination of Expedited Arbitration in the British Virgin Islands, Bermuda and the Cayman Islands, in A. Anderson and H. Verbist (eds., 2024), Expedited International Arbitration: Policies, Rules and Procedures, § 17.02[B].
[16] BVI IAC Arbitration Rules, Appendix 2, Article 2 (Scope of application of the Expedited Procedure).
[17] BVI IAC Arbitration Rules, Appendix 2, Article 3(1) (Constitution of the arbitral tribunal).
[18] BVI IAC Arbitration Rules, Appendix 2, Article 5 (Award).
[19] P. Ferrer et al., Chapter 17: The Development of Expedited Arbitration in the Offshore Space: An Examination of Expedited Arbitration in the British Virgin Islands, Bermuda and the Cayman Islands, in A. Anderson and H. Verbist (eds., 2024), Expedited International Arbitration: Policies, Rules and Procedures, § 17.02[B].
[20] CCEA Rules, Article 1.1 (Scope of Application).
[21] CCEA Rules, Articles 4.1, 4.3 (Costs caps).
[22] P. Ferrer et al., Chapter 17: The Development of Expedited Arbitration in the Offshore Space: An Examination of Expedited Arbitration in the British Virgin Islands, Bermuda and the Cayman Islands, in A. Anderson and H. Verbist (eds., 2024), Expedited International Arbitration: Policies, Rules and Procedures, § 17.03[B].
[23] See, e.g., CIArb Arbitration Rules Bermuda, Article 6 (Appointed authority).