MEMORANDUM OF UNDERSTANDING CAIP – EDACInformations
On 9 March 2021, the CAIP have agreed to a new partnership deal with the Energy Disputes Arbitration Center (EDAC).
The Energy Dispute Arbitration Center is a sectoral arbitration center established on 21 October 2020 in Ankara, Turkey within the Energy Law Research Institute. It was created with the aim of solving disputes regarding Energy and Infrastructure Law between companies in Central Asia, Europe, Balkans, Middle East and Africa.
The aim of the CAIP and EDAC’s Memorandum of understanding concluded on 9 March is to promote alternative dispute resolution mechanisms and a culture of arbitration. The goal of this deal is to cooperate widely by offering mutual legal support, developing the exchange of information and publications and by doing favors for each other.
This CAIP and EDAC partnership will open new perspective for arbitration practitioners: both structures have agreed to the possibility of mutually transferring arbitrators or competent professionals. Furthermore, arbitrators can now request to be added to the partner institution’s directory of arbitrators. When more appropriate for the parties in a dispute, the organization is entitled to forward the dispute to the other partner institution in the other country.
Finally, both organization wish for a true cultural cooperation: in order to promote arbitration and its specificities, future conferences, lectures and seminars will be organized.