PCA Press Release: Settlement of Bangladesh Accord Arbitrations

Please see the attached Press Release issued today by the Permanent Court of Arbitration on behalf of the Tribunal in two arbitrations arising under the Accord on Fire and Building Safety in Bangladesh of May 2013. The Accord is an agreement between global brands and trade unions created in the aftermath of the Rana Plaza building collapse, to establish a fire and building safety programme for workers in the textile industry in Bangladesh. IndustriALL Global Union and UNI Global Union commenced arbitrations under the Accord and the UNCITRAL Rules of Arbitration 2010 against two global fashion brands in 2016.

On 17 July 2018, the Tribunal constituted in the two arbitrations issued termination orders following the settlement by the Parties of both sets of claims.

Further information about these proceedings is available at https://pca-cpa.org/en/cases/152/.