Center for Emerging Markets
The PCIA – Center for Emerging Markets (CEM) is the division of the PCIA which is dedicated to resolving disputes between and among parties from emerging markets, and is globally recognized as one of the preeminent dispute resolution centers for resolving conflicts involving parties from the Middle-East, Africa, South America, Asia and elsewhere.
PCIA-CEM Arbitrators have extensive experience working in emerging markets and understand the unique challenges faced by parties operating in these jurisdictions. PCIA-CEM Arbitrators provide conflict-free, dispute resolution services to parties in a cost-effective and timely manner, with Awards being issued within twelve (12) months of the commencement of a proceeding.
PCIA-CEM Recommended Clauses
Future disputes
For contracting parties who wish to have future disputes referred to arbitration under the PCIA-CEM Rules, the following clause is recommended. Words/spaces in square brackets should be deleted/completed as appropriate.
“Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration under the Paris Court of International Arbitration – Centre for Emerging Markets (“PCIA-CEM”) Rules, which Rules are deemed to be incorporated by reference into this clause.
The number of arbitrators shall be [one/three].
The seat, or legal place, of arbitration shall be [City and/or Country].
The language to be used in the arbitral proceedings shall be [ ].
The governing law of the contract shall be the substantive law of [ ].”
Existing disputes
If a dispute has arisen, but there is no agreement between the parties to arbitrate, or if the parties wish to vary a dispute resolution clause to provide for PCIA-CEM arbitration, the following clause is recommended. Words/spaces in square brackets should be deleted/completed as appropriate.
“A dispute having arisen between the parties concerning [ ], the parties hereby agree that the dispute shall be referred to and finally resolved by arbitration under the PCIA-CEM Rules.
The number of arbitrators shall be [one/three].
The seat, or legal place, of arbitration shall be [City and/or Country].
The language to be used in the arbitral proceedings shall be [ ].
The governing law of the contract [is/shall be] the substantive law of [ ]. ”
Modifications to Recommended Clauses
The PCIA-CEM Secretariat will be pleased to discuss any modifications to these standard clauses. For example, to provide for party nomination of arbitrators or for expedited procedures.