- On November 18, 2013
Israeli and Palestinian business leaders joined the leadership of the International Chamber of Commerce (ICC) in Jerusalem today to inaugurate the first dedicated Israeli-Palestinian centre for the resolution of commercial disputes between businesses in Palestine and Israel.
The opening of the Jerusalem Arbitration Center (JAC) is the first measure to be taken, since the Oslo I Accord was signed in 1993, to establish an internationally accepted arbitration mechanism to resolve commercial disputes between Israel and Palestine. ICC has been instrumental in establishing the JAC, a joint venture agreement between ICC Palestine and ICC Israel. The Centre will serve as a wholly independent provider of dispute resolution services for the settlement of commercial disputes between Palestinian and Israeli businesses using specific rules drafted for the JAC based on the ICC Rules of Arbitration.
Until now, companies have relied on a mechanism provided by the Oslo Accords, signed by the Palestinian Liberation Organization and the State of Israel in 1993, to resolve Palestinian-Israeli civil disputes. However, as this mechanism involves governments, case work is often stalled by political and security related issues in both jurisdictions.
To download the JAC Arbitration Rules 2013 and a short summary on the Jerusalem Arbitration Center, please visit our International Arbitration page.
For more information on JAC, please visit the ICC’s website.