THE Prime Minister’s Office has announced that His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam has consented for the establishment of an arbitration centre called Brunei Darussalam Arbitration Centre.
According to a press release, the establishment of the centre is to provide arbitration facilities and administrative services and mediation to meet the needs of domestic and international consumers.
Through the services provided by the centre, it will give option and promote the adoption of arbitration and mediation services in resolving commercial issues and disputes as a speedier alternative to the usual settlement through civil proceeding in court.
The centre is an independent and non-profit centre with a broad mandate necessary to administer domestic and international arbitration in the Sultanate.
The centre has its own board of directors and will be located at 8th Floor, Brunei Economic Development Board Building, Jalan Kumbang Pasang.