Bangladesh has a common law-based judicial system. The country’s basic laws such as penal code, civil and criminal procedural codes, contract laws and company law are used to absolve local disputes. In cases of disputes, alternative dispute resolutions are viable under the Arbitration Act of 2001 and 2004. Bangladesh is a signatory of the International Convention for the Recognition and Enforcement of Foreign Arbitral Awards and a member of International Centre for Settlement of Investment Disputes (ICSID). Bangladeshi law allows contracts to refer dispute settlement to third country forums (e.g. in Singapore) for resolution. Bangladesh is also a party to the South Asia Association for Regional Cooperation (SAARC) Agreement for the Establishment of an Arbitration Council since November 2005. This association aims to establish a permanent center for alternative dispute resolution in one of the SAARC member countries.

Other regulations:

• Bangladesh is a signatory of the New York Convention and recognizes the enforcement of international arbitration awards

• Domestic arbitration is under the authority of the district judge court bench and foreign arbitration is under the authority of the relevant high court bench

• The Bangladesh Arbitration Act of 2001 and amendments in 2004 reformed alternative dispute resolution in Bangladesh. The Act consolidated the law relating to both domestic and international commercial arbitration.

• The Bangladesh International Arbitration Centre (BIAC) is available for dispute resolution. The center operates under the Bangladesh Arbitration Act of 2001. BIAC is an independent arbitration center established by prominent local business leaders in April 2011 for commercial dispute resolution. The council committee is headed by the President of International Chamber of Commerce – Bangladesh (ICCB) and includes the presidents of other prominent chambers including Dhaka Chamber of Commerce and Industry (DCCI) and Metropolitan Chamber of Commerce and Industry (MCCI).