Arbitration proceedings, both domestic and international, are becoming increasingly popular in Cyprus. This is not surprising, as Cyprus was and continues to be a well established international business center with outstanding commercial infrastructure and first class services for local, regional and international business entities.
In Cyprus, arbitration proceedings are governed by two separate legal regimes.
Domestic arbitration is governed by the 1944 Arbitration Law, Chapter 4 of the codified laws of Cyprus (Cap. 4). International arbitration is governed by Cypriot International Arbitration in Commercial Matters Law of 1987 (L. 101/87), which is almost identical to the United Nations Convention on International Trade Law Model Law on International Commercial Arbitration (UNCITRAL Model Law).
In both cases, the interference of Cypriot courts is strictly limited to supporting the principle tenets of arbitration, party autonomy and finality.
Further, Cyprus is a signatory to the 1958 New York Convention for the Recognition and Enforcement of Foreign Arbitral Awards, the cornerstone of modern international arbitration practice, and incorporates its main provisions in L. 101/87. Cyprus is also a signatory to the 1965 Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention) and a party to more than 20 Bilateral Investment Treaties (BITs).
A. G. EROTOCRITOU LLC is a prime player in the field. The firm offers premier domestic and international (institutional and ad hoc) arbitration services. Its arbitration group comprises individuals with significant experience as Tribunal members and Counsel in the field.
This content is solely for general information purposes. None of the information herein should be relied on or substituted for specific professional advice regarding a particular matter or situation and no person should act or refrain from acting on the basis of the information contained in this brochure without first obtaining advice from an attorney. A.G. Erotocritou LLC is not engaged in rendering legal services or advice by providing the information contained in this brochure. © A.G. Erotocritou LLC, a Cyprus lawyers’ limited liability company regulated by the Cyprus Bar Association, with registration number HE 326006. Address: 1 Arch. Kyprianou and Ayiou Andreou Str, Loucaides Building, 6th floor, 3036 Limassol Cyprus I website: www.erotocritou.com I Telephone: +35725370101 I Fax: +35725370102 I email: firstname.lastname@example.org