Sharjah24: Sharjah International Commercial Arbitration Center "Tahkeem"(today) held a workshop entitled, "The Importance of Arbitration in Contracts", aimed at introducing employees in the Government of Sharjah's legal department to the concept of commercial arbitration and the role it plays in economic, commercial and industrial sectors. The center aims to spread a culture of arbitration among jurists, professionals, and businesses at the local, regional and international levels.
The workshop, presented by Dr Hamda Ali Al Baloushi, Cases Manager at Tahkeem, defined the concept of commercial arbitration, its importance and its role in resolving commercial disputes. It discussed arbitration as a mechanism for diverting disputes away from normal litigation methods and explained when to resort to arbitration.
During the workshop, Dr Al Baloushi clarified the reasons that motivate disputants to choose arbitration to settle their disputes, the most prominent of which are speed and flexibility in resolving, while ensuring that data related to the nature of the work are never publicly disclosed. Maintaining impartiality with both parties, “Tahkeem” works to implement and promote the concept of dispute resolution.
Al Baloushi explained the procedures followed during arbitration. The process starts with submitting the request all the way to notifying the parties of the judgment. The judgment is binding on all parties, has the same executive power as the judiciary, and the execution of the judgment requires approval by the Federal or Local Court of Appeal.
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