About Thailand Arbitration Center
Arbitration in Thailand has established after Arbitration Act B.E. 2530 (1987) has came into force in B.E. 2530 (1987). Arbitration is a process of commercial dispute resolution which is simple, fast and less expensive. It will assist reduce cases that brought to the court so that judicial proceeding in general has been developed.
The government was well aware of the importance of arbitration so the establishment of Thailand Arbitration Center has been one of the essential and necessary policies. The standard of arbitration in Thailand has to improve to meet international standard in order to be the center of arbitration. Recently arbitration has been well-known worldwide as it has been used to resolve the dispute between cross-border parties. Furthermore, the establishment of Thailand Arbitration Center is a preparation on dispute resolution process for Thailand, as a member of ASEAN in B.E. 2558 (2015), in order to be the center of arbitration in ASEAN.
Thailand Arbitration Center (THAC) is established subject to the Act of Arbitration Center B.E. 2550 (2007). The purposes of THAC are to support and promote the international system of arbitration, to become a center of arbitration known widely for stipulating independent services on arbitration and to improve arbitration center in Thailand in order to meet the same standard as arbitration institutions in other countries.
To facilitate international arbitration settlement with international standards and strengthens the system of arbitration
- To provide independent arbitration service that comply with international standards
- To support and promote the international system of arbitration