Queensland to adopt arbitration reforms

Commercial dispute resolution in Queensland will be easier and more cost effective under the Newman Government’s proposed reforms to the Commercial Arbitration Bill.

Attorney-General Jarrod Bleijie said the reforms, which had been adopted in most states, would make commercial arbitration a more attractive option for businesses involved in disputes.

“The new model allows for disputes to be resolved with the assistance of an impartial arbitrator, leading to fair and final resolutions without unnecessary delay or expense,” Mr Bleijie said.

“It is in the interest of all parties, where possible, that matters are resolved without the need for court proceedings and exorbitant litigation costs.

“There were concerns the process was becoming too litigious and a decision was made at the Standing Council of Attorneys-General last year to adopt a model bill in line with United Nations law.

“Queensland was one of the only states yet to adopt the model bill, so it was critical we came into line with the rest of the country and could compete for business.”

Mr Bleijie said there was significant international interest, particularly from Asia, in Australia’s commercial arbitration processes and Queensland businesses could now capitalise on it.

“Most other states already have these measures in place in terms of facilitating disputes and we must meet world standards in order to attract business,” he said.

“This Bill will ensure international companies know we are open for business when it comes to commercial arbitration.

“These amendments have strong industry backing and will modernise commercial arbitration legislation, allowing local arbitrators to attract more domestic and international business.”

Media Contact: Lisa O’Donnell 0400 986 432 or Matt Johnston 0432 535 893