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ABOUT US
Welcome to Colombo, Sri Lanka
The Sri Lanka National Arbitration Centre (SLNAC) having been established and thereafter incorporated in 1985 functions as the leading institution that furthers the goals and objectives of commercial arbitration in Sri Lanka. With hope of making commercial dispute resolution through the practice of arbitration more cost effective and expeditious, the Centre stands at the threshold of being one of the primary establishments in South Asia which would afford the flexibility and convenience of conducting both regional and international arbitration hearings.
Brought into operation under the Companies Act, the Centre functions as a private, not for profit Guarantee Company and over the course of its operations various representative bodies have combined in promoting and developing the SLNAC into its current status as being the premier arbitral body in the country. The Centre has successfully conducted domestic and international commercial arbitrations and adjudications and has settled a large volume of disputes within both the private and state sectors.
In light of the removal of all obstacles pertaining to economic growth in this country coupled by the rapid increase in the spheres of infrastructure development, foreign direct investment, imports and exports and the expected growth of the capital markets, the Centre remains focused and determined to offer its services to legal and other professionals, local and international business communities.
The Centre has facilitated
The Centre has facilitated domestic commercial arbitrations, international arbitrations, adjudications, mediations, and disputes of private bodies and State entities at its Centre. The awards delivered through the Centre are certified and duly recognized for enforcement in the High Court (Commercial) of Colombo, in terms of the Arbitration Act No.11 of 1995.
The SLNAC is also an advisory body for the promotion of arbitrations and has been a catalyst for the setting up of a specialized High Court to enforce arbitral awards and for suggestions for the original arbitration act based on the model law and research papers for the development of Colombo as a neutral commercial venue for international commercial arbitrations in Asia.
Sri Lanka has a long history of a rule based system of laws. Even prior to the establishment of Statutory Commercial Laws it had a history of an alternate dispute resolution mechanism of over 1000 years.
The Arbitration Ordinance (1866) originally was in existence for over 90 years and thereafter a new Arbitration Act based on the Model Law was enacted in 1995. A large amount of commercial laws based on the English Law was enacted in the country.
Accordingly, with the growth of construction, international trade, shipping, logistics, sports and other areas, the SLNAC is poised to proceed to its next chapter of growth.
Our Aim
Our aim is to project Sri Lanka as a venue
for arbitration based on the following advantages:
- In terms of geography, the country is found off the south coast of the Indian-subcontinent, easily accessible by both air and sea routes, it is situated in a strategic location in the Indian Ocean region.
- A rich and long standing legal heritage, comprising of the finest luminaries in the profession, the latest laws governing arbitration, a Common Law based on Roman-Dutch law and Commercial Laws founded on the principles of English Law.
- Serves as one of the most sought after tourist destinations of the world with a unique culture, numerous conference and leisure facilities and 5-star hotel accommodations to indulge in.
- A conscious effort has been made to expedite the resolving of commercial disputes through innovative methods. We are pleased to state that during the course of the past year a total of 134 arbitrations were initiated and the percentage of cases filed and disposed of stood at 110.The figure is an outstanding disposal rate of 81% within a year.
- Peaceful and cohesive environment.
- A wide spread usage of languages and especially possessing excellent skills in English, telecommunication and IT infrastructure.
- Acceptance of the country as a neutral venue.
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