Arbitration Service of the Cyprus Chamber of Commerce and Industry

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[edit] General Information

  • Official name: Arbitration Service of the Cyprus Chamber of Commerce and Industry
  • Country: Cyprus
  • City: Nicosia
  • Type of organization: Chamber of Commerce
  • Date of creation: 1927
  • Interests: Arbitration
  • Fields of expertise: Commercial and Business Disputes

[edit] Description

The Cyprus Chamber of Commerce and Industry is a private corporate body functioning under special law and is financially independent, free of any influence by the state. The Chamber is funded by its members' subscription fees and through income generated from a number of services it provides.

The CCCI is the union of Cypriot businessmen, the interests of whom it promotes by submitting to the government and the Parliament the members' positions on matters in which they are involved, while, through its participation in tripartite bodies and committees, it conveys and promotes the views of the business community.

The Cyprus Chamber of Commerce and Industry was founded in 1927 and in 1963, a new structure was adopted, which remains in operation to date, under the name of: "Cyprus Chamber of Commerce and Industry".

[edit] Objectives

The basic objective of the CCCI is to safeguard and steadily develop the Cyprus Economy in order to continuously improve the standard of living and prosperity of all the people of Cyprus.

This objective outlines and determines the policy of the CCCI and its activities which aim at offering high quality services to members, including:

  • Promotion of the interests of the business community, within the framework of the broader interests of Cyprus and the welfare of its people.
  • Strengthening of private initiative which constitutes the backbone of the economy while safeguarding and promoting, at the same time, the liberal character of the economic system of Cyprus.
  • Being abreast of the economic developments and maximizing the contribution of the business community to the country's progress.

[edit] Organization

The CCCI is the federation of the local Chambers of Commerce and Industry (CCIs) which operate in Nicosia, Limassol, Famagusta, Larnaca and Paphos. The local CCIs have a geographical coverage of their respective districts. The Nicosia CCI covers also the districts of Kyrenia and Morphou.

The membership of the CCCI exceeds 8,000 enterprises from the whole spectrum of business activity. Affiliated to it are more than 140 Professional Associations from the trade, industry and services sectors.

The Chamber is governed by a 36-member Council chaired by the President. A 13-member Executive Committee acts as coordinator and handles matters of urgency.

The CCCI Secretariat is involved in the day-to-day operation of the Chamber and in the implementation of the policies and decisions of its governing bodies, under the direction of the Secretary General who is the Chief Executive Officer of the Chamber.

A Supreme Advisory Body, functioning as forum of two way communication and consultation, is made up of the members of the Boards of the CCCI and the Local Chambers and the Presidents and Vice - Presidents of the Professional Business Associations.

[edit] Arbitration Services

The CCCI itself administers arbitrations. It also appoints arbitrators and administers arbitration as the Cyprus National Committee of the International Chamber of Commerce (ICC).

The CCCI administers dispute resolution both in its own capacity, and in the capacity of the National Committee of the ICC, mostly under the ICC Rules of Arbitration and Conciliation. Some proceedings in which at least one party is Cypriot are administered by the Chamber in its own capacity under the Rules laid down by the Cypriot International Commercial Arbitration Law of 1987, based on the UNCITRAL Model Law.

The Chamber does, however, encourage resort to the proceedings governed by the ICC Rules, in particular by recommending a standard arbitration clause stipulating that in case of a conflict between the ICC and the domestic Rules, the former should prevail.

[edit] Contact

38, Grivas Dhigenis Ave. & 3, Deligiorgis Str., D106P.O.Box 21455 1509 Nicosia - Cyprus

Phone: +357 22889800

Fax: +357 22669048


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