Australia is set to become a global player in the booming market for cross border dispute resolution following the opening of the Australian International Disputes Centre in Sydney.
Jointly funded by the Australian and NSW state governments and Australia's only international arbitration administrator, the Australian Centre for International Commercial Arbitration, the state of the art facility will allow national and foreign companies to resolve commercial disputes outside the court system without resorting to costly and lengthy litigation.
73% of corporations prefer to use arbitration to resolve their cross-border disputes rather than transnational litigation and saw arbitration as a means to successfully preserve business relationships.
International lawyer, Michelle Sindler has been appointed the inaugural Chief Executive of the Centre.
The Australian International Disputes Centre is Australia's premier dispute resolution venue houses leading ADR providers which include the Australian Centre for International Commercial Arbitration (ACICA), the Chartered Institute of Arbitrators (Australia) Limited (CIArb), the Australian Maritime and Transport Arbitration Commission (AMTAC) and the Australian Commercial Disputes Centre (ACDC). The Centre offers a premier one stop full alternative dispute resolution service including panels of accredited dispute resolvers.