BACS has the first International Arbitration Court specialized in cryptocurrencies and blockchain, CIABACS.
International arbitration court specialized in conflict resolution
The intervening parties freely and voluntarily agree that any litigation, discrepancy, claim resulting from the execution, validity or interpretation of this technical document whitepaper, and other as well as any other documents related to this project, including computer programming and coding of the project, will be definitively resolved through the Arbitration administered by the Blockchain Arbitration And Commerce Society (BACS), which is entrusted with the administration of the arbitration and the appointment of the arbitrator or arbitrators, in accordance with its Rules and Regulations. The language of the arbitration will be Spanish or English.
For the purposes of notifications, the party indicates the following email and/or telegram account as the means of notification.
Submitting conflicts to CIABACS has the following advantages:
1.
Specialized court
Our arbitrators in CIABACS are specialized in arbitration, crypto assets, and blockchain. Only those who have completed the BACS courses or have professional experience can be appointed as arbitrators.
2.
Speed and agility
CIABACS’s regulations provide a procedure based on efficiency and speed. The deadlines are very short. Time is of the essence in blockchain and CIABACS.
3.
Execution of awards
- Both the arbitration regulations and the quality seal service provide mechanisms to ensure compliance with the award.
4.
International
CIABACS is an International Court that uses two languages, English and Spanish. Crypto asset conflicts are by their very nature international, which can pose significant jurisdictional problems. An International Court is the best solution for resolving these conflicts.
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