The competition was organized in 1983 by Kenneth Murphy to celebrate the 50th anniversary of the Banff Centre for the Arts, at which he was the assistant artistic director for musical programs.
[2] Ten quartets from around the world are selected to take part in the semi-final competition.
[3] After playing various styles of both traditional and modern chamber music before audiences over a period of several days,[4] three finalist groups are chosen.
[6] Each year the winning ensemble receives a cash prize and a three-year career development programme, including a recording session at Banff Centre and a performance tour of European and North American cities.
[8] In 2010, the Cecilia String Quartet of Toronto took the top prize in the competition.