The Florence Chamber of Commerce signs an agreement with the Permanent Court of Arbitration
Following the cooperation agreement signed 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 Councillor Federico Gianassi. Florence can now play host to hearings of the Permanent Court of Arbitration in The Hague. The agreement is meant to streamline the conduct of PCA proceedings for dispute resolution between States, and between States and private parties in Italy. The agreement has included Florence into a global arbitration network, along with 27 other cities in all the continents where the PCA has entered cooperation agreements.
PCA hearings will be held at the headquarters of the Chamber of Commerce in Piazza dei Giudici, in Florence. As a result, all parties involved in the proceedings will be able to resort to the PCA services in Italy.
Established back in 1899 to facilitate and encourage arbitration and other forms of disputes resolution between states, the PCA has developed into a modern arbitral institution with 121 Contracting Parties across the world. Italy and Italian parties have frequently been involved in arbitration procedures or in other proceedings handled by the PCA.
Pursuant to the agreement, the Florence Chamber of Commerce is entitled to hold mediation meetings of the Florence International Mediation Chamber (FIMC) in the headquarters of the PCA in the Hague. Finally, the two institutions commit to jointly organize initiatives to promote and support the use of mediation and arbitration as alternative instruments to resolve international disputes.
