12 June 2018

Nigeria: ICC Moves to Engender Cost Efficiency in Arbitration

The International Chamber of Commerce (ICC) Africa is set to introduce its latest efforts in enhancing time and cost efficiency in arbitration for smaller claims so as to fast track the process.

The organization said this would be done while ensuring that fundamental features of the process are not compromised.

That and many more would be discussed at the International Chambers of Commerce (ICC) Africa Conference on International Arbitration billed to take place in Lagos next week.

According to the conference chairperson, Aelex Partner, Funke Adekoya (SAN) not less than 350 participants, representing about 15 countries will be present at the conference, which is scheduled to hold on Monday June 18th and Tuesday 19th, 2018 at the Civic Centre, Ozumba Mbadiwe Street, Victoria Island, Lagos.

The conference is an annual event at which the African arbitration community updates itself on developments in the region and is also a great opportunity for participants to network and develop excellent business and professional relationships.

Adekoya said the conference, which is the most important gathering for the African arbitration community will provide invaluable updates on developments in the region, during a series of panel discussions with a faculty of prominent speakers and thought leaders.

"This conference provides an indispensable update on developments in the region and is becoming the most important gathering for the African arbitration community.

Not only does it offer a line-up of top-class speakers, topical discussions and relevant news, but also an excellent opportunity to network," Adekoya said.

The event will kick off on Monday 18 June 2018, with a session focusing on, ICC Arbitration: Innovation on the Basis of the Tradition for Quality.

This will introduce the latest strive of the ICC International Court of Arbitration for enhancing time and cost efficiency to a fast track arbitration for smaller claims while ensuring fundamental quality features.

Another session will focus on Clause and Effect: Seating your Arbitration in Africa.

This session, she said would discuss how African jurisdictions have responded to the requirements of an arbitration friendly environment and its impact upon arbitration on the continent.

In addition to these, there will be an engaging session on International Arbitration Awards: First Bus Stop or Last Station.

Panelists will discuss this topic against the backdrop of domestic and international legislation, conventions and proposed initiatives.

The climax of the day's event will be a focus on 'Participants Africa rising - stemming the flight of arbitral disputes.'

This session will focus on attendant issues resulting in the delocalisation and flight of arbitral disputes from Africa, among other interesting issues billed for discussion.

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