|
The Centre is recognised internationally as an
established and neutral forum for the peaceful resolution of
disputes, through cost-effective, fair and expeditious procedures.
While it has the support of the Malaysian government, the Centre is
a non-profit organisation, not a branch or agency of the government.
With
Malaysia having acceded to the
1958 New York Convention on the
Recognition and Enforcement of Foreign Arbitral Awards,
arbitral awards made at the Centre under its Rules are enforceable
in every country which is a party to the Convention.
The
Rules of the Centre allow a great deal of flexibility in the conduct
of proceedings of the arbitration and leave wide discretion to the
parties in regard to the choice of arbitrators, conciliators and
panellists, the place of dispute resolution and the applicability of
the procedural rules.
Foreign lawyers are also not prohibited from appearing in dispute
resolution proceedings held at the Centre. In addition, the Centre
has a panel of experienced arbitrators who may preside over
proceedings.
|