03/08/2014
«Center» viewed in 6 cases during the first half
«GCC Commercial Arbitration» tends to receive land disputes and Engineering
Ahmed Negm, Secretary-General of the commercial arbitration center of the GCC Arabic House resolution said ' that the Center's six disputes worth some 9.3 million dollars during the first half of the year 2014. According to ' us ' Najem expected sign to have the Center disputes a matter of real estate and engineering before the end of the second half of 2014 as data and market indicators, where the Center received numerous communications about the procedures and conditions for land disputes.
Najem said for the cases referred to the issue to the value of $ 1.3 million to parties Bahrainis and building infrastructure for communications system was a settlement between the parties once proceedings and before the formation of the arbitral tribunal. He said the settlement was the result of arbitration against him that required knowledge of the provisions of the status of binding, final and without appeal in addition to invalidity that will bear many expenses in addition to the financial commitments incurred after the verdict and whether fees of the arbitral tribunal or the fees of lawyers who will notarized form identifying them, not to mention the damage to his reputation among the business community after the verdict which will affect future trade contracts.
Najem said of the first half of this year witnessed a binding and final judgment and not subjected to challenge in record time is the fastest in the history of the Centre, and one of the bodies of the Centre within 40 days from the date of referral of the dispute to the arbitrator, to add a provision to a number of standard provisions issued by the Center in recent years, one of the fastest growing institutional arbitration rules the world. He also said about the arbitration system is speed and secrecy in litigation, and in the provisions to be final and decisive conflict with authority and strength and that the parties to the conflict, adding that the arbitrators are, in particular, that the Tribunal is not mandated by law as is the case for the judges but derive from the arbitration agreement liabilities. He said that the judgment of the commercial arbitration center is mandatory and final compared to the other provisions of the original sentence is only 100 days is extended by agreement of the parties, the arbitration shall be certified by the arbitrators on the list of arbitrators and experts of the Centre and are the most qualified arbitrators and buyout from different countries Cooperation and European and Arabic States. According to Secretary-General of the commercial arbitration center of the work of the Centre is to ensure that GCC economic trends and effective contribution to growth in various economic aspects that arbitration and disputes has a good contribution in ending the discounts which reflect positively on the trading economy. Najem called all GCC companies and institutions working in the private and public sectors both in the services or real estate development, oil and gas, import and export, building and construction, manufacturing or other investment areas to include an arbitration clause in their contracts, indicating that arbitration ' justice ' became parallel to spend State in separate trade disputes and financial and investment quickly, impartially and confidentially and the final binding does not accept the appeal.
