LCIA-MIAC Joint Venture Agreement Terminated By Mutual Agreement
The LCIA and the Government of Mauritius have mutually agreed to terminate the joint venture agreement which established the LCIA-MIAC Arbitration Centre in Mauritius, with effect from 27 July 2018. Consequently, from 27 July 2018 the LCIA-MIAC Arbitration Centre will cease operations. From that date (27 July 2018), therefore, parties to contracts should not include arbitration agreements providing for LCIA-MIAC arbitration.
Established in 2011 as a joint venture between the LCIA and the Government of Mauritius, the LCIA-MIAC Arbitration Centre has been a focal point for international arbitration in Africa over the past seven years.
To ensure continuity and a high-level of service, the LCIA will administer arbitrations and mediations arising out of agreements referencing the LCIA-MIAC Arbitration Centre that have already been concluded, or are inadvertently concluded between now and 31 August 2018. For further information, parties should refer to the newly amended LCIA-MIAC Arbitration Rules 2018 and LCIA-MIAC Mediation Rules 2018. The LCIA also looks forward to continuing its close engagement with Africa-based and Africa-focussed international arbitration, and will continue to promote the LCIA Rules for such arbitrations.
A new arbitration centre (entirely separate from the LCIA), the Mauritius International Arbitration Centre (or MIAC) will for its part immediately commence operations in Mauritius, with the continuing full support of the Government of Mauritius and with the international assistance required to guarantee a high level of service. Arbitrations and mediations arising out of agreements inadvertently referencing the LCIA-MIAC Arbitration Centre and concluded after 31 August 2018 will be administered by MIAC; further information can be found on the transitional arrangements page of the MIAC website.
While the above transitional arrangements have been put in place to cater for any inadvertent future referral to LCIA-MIAC by parties, parties are strongly encouraged to ensure that, going forward, agreements do not include references to the LCIA-MIAC Arbitration Centre in their dispute resolution clauses and instead use other Alternative Dispute Resolution (ADR) clauses.
Both the LCIA and the Government of Mauritius remain committed to international arbitration both in and in relation to Africa, and look forward to being involved in its future growth.