Toronto is one of the best places in the world to arbitrate commercial disputes. Toronto is a more convenient, less expensive and more reliable place to conduct arbitrations than the world’s traditional arbitration centres. It’s also an exciting and entertaining city.
Toronto is one of the best places in the world to arbitrate commercial disputes. Toronto is a more convenient, less expensive and more reliable place to conduct arbitrations than the world’s traditional arbitration centres. It’s also an exciting and entertaining city. Toronto, Canada’s economic capital, is considered one the top financial centres in the world. The Toronto Stock Exchange and TSX Venture Exchange are home to 58 percent of the world’s public mining companies.
Toronto is a centre for innovation and entrepreneurship in many economic sectors including finance, technology, telecommunications, education, health sciences engineering, media, arts, film and sports. It is the hub of Canadian commerce with a sophisticated financial services infrastructure that a reputation for safety, soundness and stability.
Toronto is frequently the seat of international commercial arbitrations. All of the major international arbitral organizations including the ICC, LCIA and ICDR arrange arbitrations in Toronto. Toronto is also home to two Canadian arbitral organizations – ADRI (non-profit) and ADR Chambers (private) - with their own rosters of arbitrators and set of arbitral rules.
Two private arbitration firms, Neeson Arbitration Chambers and Arbitration Place, also have rosters of arbitrators and can assist with organizing arbitrations. TCAS members regularly sit as arbitrators in these institutional arbitrations.
Parties can also adopt the UNCITRAL Arbitration Rules which were designed for ad hoc arbitration.In 1986, Ontario became the first country in the world to adopt the UNCITRAL Model Law. Ontario’s modern arbitral legislation adopts the principles of party autonomy including allowing commercial parties the freedom to design their own arbitral process and limiting court intervention.
Courts are to assist the arbitral process, hold parties to their arbitration agreements and permit arbitral tribunals to determine their own jurisdictions. Arbitral awards are enforceable with very limited judicial review. Ontario courts have shown a strong willingness to interpret the Province’s modern arbitration legislation in a manner consistent with the philosophy of party autonomy. This provides business parties with an opportunity to tailor an arbitral process that suits the needs of the parties and the circumstances of the case.
Ontario’s Chief Justice has summarized the support of the Ontario judicial system this way:“We in the courts appreciate the synergy that must exist between an expert commercial arbitration system, and a knowledgeable and effective court system. Courts recognize the benefits that result from attracting fast-paced, global commercial transactions to our jurisdiction. And, we wholeheartedly support [TCAS’s] efforts to make Toronto an attractive venue and leading centre for commercial arbitration”. TCAS provides a searchable member database to assist you in selecting an arbitrator. Feel free to contact our members to act as arbitrators, counsel or experts on your arbitration. TCAS members are highly experienced in the arbitration field.Toronto is an ideal place to run your arbitration.
Have a look on the TCAS website [www.torontocommercialarbitrationsociety.com] at the CV’s of our members and at the excellent facilities for holding arbitrations. Each of TCAS’s partners has spacious professional facilities and hearing rooms and real time transcription services are available in English and French. Best of all, most major hotels, restaurants and arbitration facilities in the downtown core are connected by a climate controlled underground mall and walkway facility that means never having to go outside in inclement weather. Toronto is home to world class restaurants, art galleries, theatres, Broadway productions, museums, concert halls and sports teams.
It is also known for international festivals and events which take place throughout the year including the Toronto International Film Festival, the Caribana Festival, Nuit Blanche, Luminato and the Toronto International Jazz Festival. Come and enjoy our amazing city!
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