Arbitration Act (Revised Edition 2020)

Summary

This is the Virgin Islands' Arbitration Act, revised to show the law as at 1 January 2020. It gives the UNCITRAL Model Law on International Commercial Arbitration (as amended in 2006) force of law in the BVI, with numerous modifications and supplements, and consolidates the framework for both domestic and international arbitrations seated in the Virgin Islands.

• Scope: Applies to arbitrations under an arbitration agreement where the place of arbitration is in the Virgin Islands; limited provisions (sections 18, 19, 43, 58, 59 and Part X) apply where the seat is elsewhere.
• Arbitration agreements: Sets out the definition and required form of arbitration agreements, their effect on court proceedings and interim measures, and survival on the death of a party.
• Tribunal composition: Governs appointment, challenge, replacement and death of arbitrators, appointment of umpires, and appointment of mediators.
• Interim measures and preliminary orders: Empowers arbitral tribunals and the Court to grant, modify, secure, and enforce interim measures and preliminary orders.
• Conduct of proceedings: Covers procedural rules, place and language of arbitration, statements of claim/defence, hearings, default of a party, expert evidence, and court assistance in taking evidence.
• Awards: Governs the making, form, correction, interpretation and effect of awards, costs, interest, and recourse against (setting aside) an award.
• Recognition and enforcement: Provides regimes for enforcing arbitral awards generally and New York Convention awards specifically, including required evidence and grounds for refusal.
• Confidentiality: Restricts reporting of arbitration proceedings heard otherwise than in open court and prohibits disclosure of information relating to arbitral proceedings and awards.
• BVI International Arbitration Centre (BVI IAC): Establishes the BVI IAC and its Board, sets qualification/disqualification rules for Board members, creates the office of Chief Executive, authorises fee-levying, and requires maintenance of a register of arbitrators.
• Tax and immunity: Grants exemption from income tax, payroll tax and stamp duty in connection with arbitration, and provides immunity for arbitral tribunals, mediators, administrators and appointers.

The Act is general legislation governing arbitration procedure and institutions in the BVI rather than a licensing or supervisory instrument; it is included in the FSC's legislation library as part of the Virgin Islands' consolidated laws and remains in force as revised.

Key obligations

• Arbitration agreements must satisfy the definition and form requirements set out in section 17
• Proceedings heard otherwise than in open court are subject to restrictions on reporting
• Parties and others involved must not disclose information relating to arbitral proceedings and awards except as permitted under section 16
• A party seeking enforcement of an arbitral award must produce the evidence required under section 82
• A party seeking enforcement of a Convention award must produce the evidence required under section 85
• The BVI IAC must maintain a register of arbitrators under section 100
• Appointment and revocation of appointment of the Chief Executive and Board members must be published in the Gazette, with reasons given for any revocation

Applies to

parties to arbitration agreements, arbitrators and umpires, mediators, the BVI International Arbitration Centre (BVI IAC) and its Board, the Court (High Court), legal practitioners representing parties in arbitration