The Brunei Darussalam Arbitration Centre (BDAC) recently hosted its first public arbitration event titled ‘Controlling Costs in International Arbitration’ at its office at Jalan Kumbang Pasang.
The lecture was delivered by a professor from Sydney Law School Professor Luke Nottage and a visiting professor from Universiti Brunei Darussalam.
BDAC Chairperson Radin Safiee bin Radin Mas Basiuni, said, “We must be prepared to address any possible disputes within our boundaries due to the increasing trends in foreign direct investments in Brunei in recent years. The common means of solving disputes in international trade are either through court litigation or arbitration. A major feature of international trade involves parties in different jurisdictions. With the rise of international trade, disputes may also arise within cross-border parties”.
Radin Safiee highlighted that arbitration had become an avenue for resolving disputes in international trade, especially between foreign investors and host states.
He added that international arbitration plays a significant role in international trade as it allows contracts to be enforced effectively, providing easy access to justice for the foreign investor and strengthens the rule of law. The special lecture explored broad developments and the costs incurred in arbitrations (mainly legal fees).
The lecture was attended by Permanent Secretary (Security and Law) at the Prime Minister’s Office Hajah Nor Hashimah binti Haji Mohammed Taib, Solicitor General Hajah Zuraini binti Haji Sharbawi, Attorney General Chambers, Registrars of the Supreme Courts, counsels from the government, and members from the private sector as well as representatives from Singapore, Indonesia and Malaysia.
