The Secretary-Generals of the Spanish Chamber of Commerce, Adolfo Díaz-Ambrona, and of the Spanish Banking Association (AEB), Javier Rodríguez Pellitero, have signed a cooperation agreement between the two organisations with the aim of “promoting arbitration and mediation as methods of dispute resolution as alternatives to the courts of law”.
The agreement, which will initially be in force for four years, provides for the launch of various joint initiatives related to raising awareness of mediation and arbitration as effective instruments “for business competitiveness and, therefore, for generating social well-being”.
As stated in the agreement, the impact of the crisis caused by Covid-19 on contractual relationships, both domestic and international, makes it “more necessary than ever” to make available to companies instruments which, such as arbitration and mediation, facilitate the resolution of business disputes and offer an effective alternative to the judicial system.
Under this agreement, the parties undertake to organise conferences, publish articles—both academic and informative—and develop all kinds of training activities. To this end, they agree to establish a monitoring committee, which will be responsible for approving the work plan, monitoring the activities carried out, and evaluating the results.
AEB is a professional association open to all Spanish and foreign banks operating in Spain. Since its creation in 1977, it has been committed to the development of the Spanish banking system and to its contribution to the country’s economic growth.
For its part, the Spanish Chamber of Commerce is a public-law corporation entrusted with representing, promoting and defending the general interests of Spanish companies. It is also legally tasked with promoting alternative systems for resolving business disputes, a function it carries out through the Spanish Court of Arbitration and the Spanish Mediation Centre.
