PRÓSPERA ZEDE, ROATÁN, IB, HN - Today, the Próspera Arbitration Center (PAC) announced reaching an agreement to collaborate with Costa Rican Young Arbitrators to strengthen Alternative Dispute Resolution (ADR) in the region.

"I am delighted to witness the collaboration between Costa Rican Young Arbitrators and the PAC towards promoting ADR methods in Latin America. This partnership is a significant step towards enhancing dispute resolution practices in the region, and I am confident that it will be beneficial, contributing to more efficient and effective dispute resolution in the future. “said PAC Appellate Arbiter John Pelander, former Arizona (USA) Supreme Court Justice.

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PAC Chief Legal Officer and Honduran Notary Leonidas Rosa further explained, "This MOU is an exciting development for both institutions. It presents an excellent opportunity to promote ADR methods not just in Honduras and Costa Rica but also throughout Latin America. I am thrilled to witness the positive impact it will bring to our region “.

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The Memorandum of Understanding between the PAC and CYA commits both organizations to jointly promote the use of ADR to resolve disputes in their respective jurisdictions and through this method to ultimately strengthen direct foreign investment in the region.

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"Our partnership with Costa Rican Young Arbitrators is a significant step towards promoting ADR methods in the region. We believe that this collaboration will strengthen our efforts in the field of arbitration in Latin America." observed PAC Interim CEO and Honduran Attorney Alberto Hernandez Franks.

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More specifically, the agreement promises that the two arbitration institutions will:

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• Carry out training programs and exchange of ideas and opinions aimed at promoting ADR methods throughout Latin America.
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• Jointly explore additional areas of collaboration, which could include the co-organization of conferences, seminars, and workshops on international arbitration in both Honduras and Costa Rica. We also hope to invite key members of our respective arbitration communities to attend and participate in the main events organized by both institutions.
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"The signing of this MOU marks another milestone, and I applaud the efforts of both organizations. It is a positive step in the right direction towards achieving our common goal. We eagerly anticipate the opportunity to collaborate with CYA.", said PAC Senior Arbiter John Gemmill, former Chief Judge, Arizona (USA) Court of Appeals.

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For more information, please contact:

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Prospera Arbitration Center

T: +504 9486 8057

E: legal@pac.hn

W: www.pac.hn