Peace
and blessings,
Asharqia Chamber presents its best
regards and informs you of the receipt of The
letter of the Saudi Center for Commercial Arbitration No. (1706185)
date (7/6/2017), which includes that the role of commercial arbitration
and settlement of disputes is an effective role in enhancing the
competitiveness of the investment environment in the Kingdom and its
contribution in making it an attractive environment for domestic and
foreign investment. Commercial Arbitration in the Kingdom because this will help to ease
the burden on investors and judicial facilities and achieve the goals of the National Transformation Program (2020).
In
this context, we confirm that the support of the national arbitration
institutions will lead to the settlement of the arbitration industry in
the Kingdom and develop it to make the Kingdom a prominent place among
the countries of the region in this area. This will increase the
credibility of the dispute settlement in the Kingdom and reduce the
resort to international mechanisms In which there is no settlement in favorable circumstances as well as
real damage to the image of the business environment in the Kingdom.
We
would like to inform you of the desire of the Saudi Commercial
Arbitration Center to include the model dispute settlement in
commercial contracts which states: (Any dispute, or claim related to this contract, breach, termination or to be settled by arbitration and administered by
the Saudi Center For commercial arbitration in accordance with its arbitration rules). For further information, please contact the Center at 920003625 or visit the Center website: www.SADR.org.
