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Public procurement spending accounted for an average of 30% of total public spending across the region [1] and as much as 74% of that spending is wasted due to inefficiencies [2] , according to data from FISLAC , an analytics platform developed by the IDB’s Fiscal Management Division (FMM). of GDP, according to FISLAC calculations.
Working with the Ukrainian government, especially the Ministry and Agency for Restoration as well as our friends in the RISE Ukraine Coalition , we were delighted to unveil the demo version of a Digital Reconstruction Ecosystem for Accountable Management (DREAM) in June, to lead on making the reconstruction digitally coordinated and accountable.
Therefore, he emphasized the need to find the right balance between the protection of these important public policy goods and promoting and attracting FDI to foster economic development and increase the standard of living. In sum, the main take away of this rich panel discussion was that the right balance must be found.
First, how arbitration engages with criminal lawparticularly the way tribunals handle corruption allegations and other criminal issues that arise during proceedings. ramping up enforcement of the Foreign Corrupt Practices Act (FCPA), triggering high-profile investigations and hefty penalties for cross-border bribery.
Public procurement is like the heartbeat of public spending in most of Africa – by some estimates, it accounts for 17% of the GDP of African Countries. These included ongoing issues such as poor institutional coordination, lack of transparency, high levels of corruption, and murky lines of accountability.
Issues of corruption, investors coming in with unclean hands, as well as investors putting forward inflated claims are also some of the concerns of host states and other stakeholders. In terms of corruption, Prof. Dr. Ong said that there are currently no arbitration rules that define the standard of proof for corruption.
Public procurement needs to be more transparent, efficient, and accountable to tackle the major social and economic challenges faced by governments across the world. But governments’ digital transformation of their systems to better achieve these goals are at varying stages of development and maturity.
Mr Singarajah highlighted the need to find a good balance between this flexibility, which allows arbitral tribunals and lawyers to have enough room to address misconducts, and having enough norms so as to apply a minimum standard.
The importance and positive contribution of public procurement law to the adequate management of public funds may seem difficult to appreciate in ordinary times, and there are recurrent calls for a reduction of the administrative burden and bureaucracy related to procurement procedures, checks and balances.
However, she flagged several issues inhibiting mediation’s widespread adoption such as (a) accountability; (b) premature invocation of mediation; and (c) socio-economic impact of mediation, as some of the reasons why mediation was not yet a serious contender. Where do We Stand?
Your feedback keeps us honest and accountable. We are also very pleased that we achieved one of the closest gender balances in survey responses last year, closing the gap between Men and Women from a 22% differential in 2022, to an 11% differential in 2023. More importantly, there was virtually no gap in our indicators across gender.
By focusing on social value, governments demonstrate accountability and purpose. Anti-corruption policies further reinforce integrity in procurement, safeguarding public funds and fostering trust in government processes. Aligning these goals with community priorities and adhering to legal requirements ensures a balanced approach.
However, the focus on delivering a conventional energy business in a value-focused way has led to more disputes due to finely balanced economics and resource shortages. Australia will continue to be a major supplier to the Asia-Pacific region, and also accounts for a lot of the developments in LNG infrastructure.
In addition, the tribunal pondered the policy objectives pursued by Colombia with the scope of economic interests of the investor, taking into account the legal status of its investment under the local laws to conclude that without vested rights, there was no illegality in the issuance of the decisions taken by different state authorities.
Nevertheless, a growing number of arbitrations revolve around matters like environmental permits, green incentives, the need for a “social license,” and corruption. By embedding these principles in IIAs, States are creating a legal foundation that can balance investor rights with the urgent need for environmental protection and social equity.
The tribunal pondered the policy objectives pursued by Colombia with the scope of economic interests of the investor, taking into account the legal status of its investment under the local laws to conclude that without vested rights, there was no illegality in the issuance of the decisions taken by different state authorities.
In that same year, disputes with Brazilian state entities accounted for at least 36 new arbitrations. It’s a fine balance. Conclusion Much like what happened when Bumble appeared, BRAMIA tilts the power balance back towards the party which often finds itself more exposed, putting them in a more comfortable setting.
In that same year, disputes with Brazilian state entities accounted for at least 36 new arbitrations. It’s a fine balance. Conclusion Much like what happened when Bumble appeared, BRAMIA tilts the power balance back towards the party which often finds itself more exposed, putting them in a more comfortable setting.
To strike an appropriate balance, SIAC, for its part, has adopted a noteworthy approach – according to one of its practice notes , “the parties are not to bear any fees for the use of an administrative secretary where the amount in dispute is under S$15,000,000” (para. As Popplewell J.
This creates a regulatory gap —or rather a laissez faire environment—whereby the public sector is allowed to experiment with the adoption of digital technologies without clear checks and balances. The current strategy is by and large one of ‘experiment first, regulate later’.
Furthermore, All relevant actors in the arbitration must take into account: (i) aspects of sustainability when conducting the proceedings; and (ii) the benefits of diversity and inclusivity when nominating prospective arbitrators and when appointing arbitrators under the Rules ( Article 25 paragraph 5 ).
On balance, emotion AI should be embraced, albeit within responsible and ethical boundaries. In our view, the use of emotion AI to enhance, prepare, conduct, or monitor proceedings should be done transparently, consensually, and in compliance with legal and ethical guidelines to ensure fairness and accountability in arbitral proceedings.
This is especially the case where the host State raises a defence asserting the State’s emissions-reduction obligations, requiring the tribunal to balance the investor’s right to protection under the relevant investment treaty, on the one hand, and the host State’s right to regulate, on the other.
This thus allows for increased efficiency in arbitral proceedings administration and the dispute resolution process, and the achievement of a greater balance between the right of countries to impose sanctions and the sanctioned parties’ rights in international arbitration.
Workers should also mitigate vendor lock-in that could reduce future competitiveness for public sector deals, analyze total cost of ownership against multi-year budgets, and factor support for domestic innovation ecosystems into procurement decisions to balance globally leading solutions with national economic interests. What’s next?
New Tables of the Administrative Fees and the Fees of the Arbitral Tribunal The new figures of the Administrative Fees and the Fees of the Arbitral Tribunal in the 2024 Rules strike a balance between cost effectiveness and maintaining high quality services to best serve the interests of users.
The Court’s solicitation placed the US in a position to balance its interest in maintaining friendly relations with a key ally with its treaty obligations under the ICSID and New York Conventions to enforce international arbitral awards. Media accounts widely reported the US’ Amicus as supportive of Spain. Amicus at 1).
In the meantime, he highlighted Asia’s growth in the global economy: by 2030, Asia is expected to account for 50% of the world’s economy, with the infrastructure needs of the Association of Southeast Asian Nations (“ASEAN”) expected to reach approximately four trillion U.S.
In 2020, the Respondents sought an adjustment of the Contract on account of additional labour costs arising from the Indian Ministry of Labours increase in minimum wages. Enforcing ethical standards in arbitration requires striking a balance between accountability and confidentiality. DJO rejected the claim for adjustment.
Security for costs –– a balancing act Following welcome remarks from Caroline Falconer, Secretary General of the SCC, Dr Baltag introduced the topic of security of costs as being one of the timely topics currently addressed in international arbitration. Stockholm University and member of the Board of the SCC. A provision that, as Ms.
JCAA aims to strike a balance between efficiency and quality by providing a reasonable amount of scrutiny performed by its secretariat. However, it is essential to maintain accountability and transparency, as well as careful oversight. who attempted to shield assets from seizure, in a London-seated arbitration.
Borns most fundamental objection to ex parte relief in an arbitration context is that it can virtually never accomplish any serious purpose under existing regimes, given arbitral tribunals lack coercive powers (for instance, an arbitral tribunal cannot compel freezing of bank accounts).
This was followed by a panel led by Mr. Pedro Martini, which focused on the possibility of restoring contractual balance. Methodologies for Restoring the Economic and Financial Equilibrium of Contracts In an panel moderated by Mr. Pedro Martini , the discussion focused on the possibility of restoring contractual balance.
Disclosure obligations should not be overstretched, as a balance between transparency and practicality is essential for efficient proceedings. should not be applied rigidly, but taking into account the specifics of each case, particularly the stage of the proceedings, should be considered in a balanced legal analysis.
This dual-layered scrutiny underscores the importance of tailoring arbitration clauses to account for both federal enforceability under the FAA and compliance with Californias specific legal requirements.
This confirms that the recourse to the fundamental basis is a balanced way to go beyond the question of the distinction between treaty and contract claims, in particular because it allows to take into account all the factual elements specific to each case.
The article concludes that Luxembourg strikes a balance between upholding sovereign immunity and facilitating enforcement, positioning itself as a reliable forum for arbitration, while safeguarding state sovereignty and creditors rights within a stable legal framework.
The award was further recognized in Paris in 2017, followed, three years later, by freezing of bank accounts, opened in France by the Libyan Investment Authority and the Libyan Foreign Bank, entities described as emanations of the State of Libya ( manation de l’tat ).
However, on account of the finality principle, this power is an exception rather than a rule. Nevertheless, holding that UniCredit is acting in furtherance of its own commercial interests, the EWCA did not consider it a weighty factor to be placed in the balance against the revocation application. At the outset, Part 3.1(7)
In Brazil, pioneering projects on reforms have sparked discussions about the balance between public accountability and confidentiality in class arbitrations, while also expanding the professional pool of arbitrators to include public notaries.
This post first examines the gender balance and emerging arbitration hubs in Africa (Section 1). This aims to eliminate redundancy, reduce government expenditure and enhance accountability in alignment with the Government Policy for Rationalisation of Government Agencies and Public Expenditure (RAPEX), adopted by the Uganda Cabinet in 2021.
Three-member tribunals offer a particularly effective filtering mechanism, given that each side selects one arbitrator and the president is selected jointly or by the two co-arbitrators.Dueto this balanced bilateral choice, such decision-making bodies are not prone to systematically decide in favour of one group of parties rather than the other.
This balanced approach enhances QICCAs appeal as a venue for both regional and international parties seeking a reliable arbitration platform. highlights that any criteria mutually agreed by the Parties should also be taken into account. Article 12.2
The Tribunal found shared responsibility between CFE and Greenfield—CFE bought excess coal without accounting for maintenance delays and reduced consumption, while Greenfield’s delays in reaching the COD and incomplete construction also contributed. We now await the Respondents’ answer in the U.S.
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