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Commericial arbitration in Cambodia has seen a continuing surge of interest over the past decade, swiftly becoming a viable alternative to litigation due to its affordability, flexibility and lack of complex procedures.
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Business arbiter’s move online a success
Wed, 16 December 2020
The National Commercial Arbitration Centre (NCAC) has announced the success of its first online hearing for commercial dispute resolution as part of a new pattern of service delivery enacted in response to the Covid-19 crisis.
According to an NCAC press release on December 16, the two-day oral hearing was conducted on December 3 and 4 with 30 participants including a three-member arbitration tribunal, representatives and counsel of the disputant parties, witnesses and members of the NCAC’s general secretariat.
Participants in the hearing attended from Cambodia, Macau, China, Hungary and Japan. The dispute involved foreign parties in a financial transaction relating to a real estate deal.