We are pleased to inform you of the update of the Status of the OHADAC project's progress

The OHADAC project is finalising the implementation of its objectives. The objectives of some actions have been achieved, others are being finalised.

OHADA's project's progress

In summary, the status of the project is as follows:

• The promotion and diffusion phase has been completed through the organisation of forums, conferences and seminars. It has led to the creation of the OHADAC Chapters across the Caribbean, as well as the coordination of meetings and seminars, and the dissemination of relevant information amongst legal professionals.
• The www.ohadac.com continues to be updated in tandem with the evolution of the project's and activities.
• In addition, it continues in its federating mission by centralising websites of regional organizations, arbitration centers, research centers, law faculties and schools, chambers of commerce and industry, and all other Caribbean institutions involved in the implementation of legal regional integration within the Caribbean. The sole purpose for these initiatives is to make available and to promote as broadly as possible information concerning the OHADAC project and its evolution.

As part of the implementation of the action aiming at proposing harmonized texts in business law, ACP Legal selected renowned experts and their teams for the drafting of following texts proposals:

1. Prof. Dr. Rodolfo Dávalos Fernández: (Chair) Professor of Private International Law and Commercial Law at the University of Havana. President of the Cuban Court of Arbitration. International arbitrator and ILAHDI's member. Professor Rodolfo Dávalos Fernández is responsible for the preparation and drafting of the “OHADAC Model Law on Commercial Companies” which will contain the basic rules on business law, companies with flexible capital but also modern forms of associations, including economic interest groups, joint ventures or mixed companies, and companies with flexible capital. Professor Fernández Dávalos is also responsible for the preparation and writing of a draft regulatory framework for OHADAC ad-hoc arbitration and the collection, preparation and presentation of the OHADAC database on International Commercial Arbitration.

2. Prof. Dr. Dr.h.c. Sixto Sánchez Lorenzo: (Chair) Professor of Private International Law from the University of Grenada. Member of the International Academy of Comparative Law. International arbitrator and ILAHDI's member. Professor Sixto Sánchez Lorenzo, is responsible for the preparation and drafting of a comparative study of the system of laws operating within the states and territories of OHADAC, presented as the “OHADAC Principles on international commercial contracts”.

3. Prof. Dr. Dr.h.c. José Carlos Fernandez Rozas: (Chair) Professor of Private International Law from the University of Grenada. Member of the International Academy of Comparative Law. International arbitrator and ILAHDI's member. Professor José Carlos Fernandez Rozas is responsible for the preparation and drafting of the “OHADAC Model Law on private international law”.

A brief analysis of the technical drawing texts at our disposal allows us to make a description of the experts' work as follows:

OHADAC Principles on international commercial contracts: This is an optional regulation of international contracts, a convergence of legal cultures in the Caribbean. It seeks to promote legal security of international trade in the Caribbean region.

OHADAC Model Law on private international law: It advocates the harmonization of national rules on the international judiciary competence, the applicable law and the recognition and The enforcement of foreign award and an intention to serve as an instrument for the modernization of private international law of states and Caribbean territories.

OHADAC Model Law on Commercial Companies: Through a block of recommendations, model rules and regulations harmonized, it is to facilitate international companies' business activities in the Caribbean region: melting, opening of branches, transfer of seat, joint ventures, corporate groups, etc.

OHADAC Rules on Arbitration and Conciliation: The Rules aim to restore to the parties in international commercial arbitration the main role, in promoting a competitive arbitration, flexible and cost reduced, based on legal certainty and a maximum requirement of competence, neutrality and accountability of arbitrators. This regulatory framework and its comparative study will also be available on a computerized information system and database designated “OHADAC Data Base on International Commercial Arbitration”.

These works have been completed in their original language. The last two missions related to proofreading and translation in the three languages of the OHADAC project namely French, English and Spanish, are engaged. This multilingual publication will give to the largest number in the Caribbean, access to the OHADA texts.

The proofreading related work under the coordination of Professor Sixto Alfonso Sánchez Lorenzo is conducted in the framework of a partnership initiated by the ACP Legal association with the Henri Capitant association.

The law faculties of the Universities of Granada and Madrid (Complutense) are also heavily involved in the process, in conjunction with Caribbean lawyers.

As for the mission of translation, it is led by CERIJE (Centre for Interdisciplinary Research in Juritraductologie) coordinated by Mrs. Sylvie Monjean Decaudin.

The official presentation of these model laws, frameworks and studies will be effected at a conference to be organized by ACP Legal towards the end of 2015, in the presence of all the OHADAC clubs and national Chapters. This conference will be an opportunity to present solemnly all activities to initiate the very first OHADAC Institution during this conference, namely “The OHADAC Arbitration and Mediation Court”.

The OHADAC project's prospects

These are all the countries and territories of the Caribbean region that will benefit from legal instruments to be proposed by the OHADAC.

They aspire to better adapt to the reality of the Caribbean economy. The introduction of this new creative international organization, primarily, for harmonization instruments of private law across the Caribbean basin, is intended to reduce, over the time, legal and geographical fragmentation of the Caribbean space. Then the OHADAC project will contribute to the concrete realisation of a Caribbean bloc favorable to trade and investment and allowing the region to benefit or to expand its main assets that include tourism, logistics and oilfield.

At the institutional level, the creation, initially a regional arbitration center facilitating the early resolution of disputes on regional trade in goods and services for small and medium enterprises will be followed by the creation of a regional database on business law.

The promotion of the OHADAC project must continue within the Caribbean territories so that “OHADAC instruments” should be, over time, validated by each State as instruments of private international law in area of business, beneficial to intra-Caribbean trade.

OHADAC will be an instrument serving legal and economic influence in the long term and laying the foundations for a genuine regional integration of the Caribbean countries.

For additional information, please feel free to contact:

Dr. Jean Alain Penda
OHADAC Project Coordinator
E-mail: japenda@ohadac.com