FLORENCE, ITALY – Florence will now be available as a venue for arbitral hearings under the auspices of the Permanent Court of Arbitration in The Hague. This is the major provision of the cooperation agreement which was signed this morning by Hugo H. Siblesz, Secretary General of the Permanent Court of Arbitration (PCA), and Leonardo Bassilichi, President of the Florence Chamber of Commerce, in the presence of the Florence City Councilor Federico Gianassi.
The agreement has the purpose of facilitating the conduct of PCA proceedings for the resolution of disputes between States and States and private parties in Italy. Thanks to the agreement, Florence becomes part of a global arbitration network, joining 27 other cities in all the continents where the PCA has concluded cooperation agreements.
According to the agreement, the Florence Chamber of Commerce will host arbitral hearings administered under the auspices of Permanent Court of Arbitration in its headquarters of Piazza dei Giudici. This will allow parties involved in dispute resolution proceedings to benefit from the services of the PCA in Italy.
“International dispute resolution is inherently a global endeavor,” stated Hugo Siblesz. “As an international organization, the PCA seeks to be able to conduct proceedings anywhere in the world. Cooperation Agreements, such as the one concluded today, are very important in enabling the PCA to carry out its mission. Italy has been a friend and supporter of the PCA from the very beginning, over 100 years ago, and it is entirely appropriate that the PCA now has the ability to readily convene hearings in Italy.”
“We are hugely grateful to the PCA for enabling the Chamber in offering such an important service, through which any institution or company may ask to convene their hearings in Florence,” stated Leonardo Bassilichi. “That represents an excellent way of using the new WorkinFlorence digital area, which is at disposal of all Italian and International companies, and in the same time the Chamber makes another step ahead in its commitment in the alternative dispute resolution field, which includes among its ultimate goals to reduce the time of justice”.
Founded in 1899 with the aim of facilitating arbitration and the other forms of disputes resolution involving states, the Permanent Court of Arbitration is today a modern institution with 121 Member States around the world. Italy and Italian parties have frequently been involved in arbitration and other proceedings under the auspices of the PCA.
The agreement will also enable the Florence Chamber of Commerce to organize the mediation meetings of the Florence International Mediation Chamber (FIMC) in The Hague at the PCA headquarters. Additionally, the two institutions undertake to promote and enhance international alternative disputes resolution instruments, such as mediation and arbitration, by way of joint initiatives.