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Second Regional Conference on Commercial Arbitration Convenes at TAG-Knowledge Forum

06-May-2013 | Source : AG-IP News | Visits : 5088
Second Regional Conference on Commercial Arbitration Convenes at TAG-Knowledge Forum
Special to ag-IP-news Agency

AMMAN - The Talal Abu-Ghazaleh Organization (TAG-Org) and Konrad Adenauer Foundation held a seminar on “Jordanian Judiciary and Arbitration” at the Talal Abu-Ghazaleh Knowledge Forum (TAG-Knowledge Forum).

In his opening speech entitled “The Importance of Arbitration for other Methods of Dispute Resolution”, HE Dr. Talal Abu-Ghazaleh said that it is a good coincidence that this cooperation comes in concurrence with the launch of the Arab Centre for Dispute Resolution (ACDR). An arm of the Arab Society for Intellectual Property (ASIP), ACDR will be a provider of dispute resolution services related to domain names on the Arab regional level. The Arab Society for Mediation and Arbitration in Intellectual Property will announce for the centre through the mass media following today’s General Assembly meeting.

The fifth of its kind worldwide, ACDR will have a unique standing in the Arab world as it will put emphasis on those disputes arising on domain names. Such disputes will be settled by arbitrators from around the world who are qualified to address domain name issues in a variety of languages.

“This vital project has been the focus of our efforts. I have, personally, dedicated my efforts for it with a firm belief in the merits that arbitration has over other out-of –the-court dispute resolutions. It has, indeed, proven to be the most common alternative means of dispute resolution,” he added.

Arbitration is nothing new. It has been a resort of humans, since the dawn of history, to go for arbitration in relation to their commercial activities and transactions, even before the formal development of laws and legislation. As such, arbitration is pursued by two disputant parties who agree to refer their dispute to one or more arbitrators fully authorized to exercise the procedures they see appropriate. 

Simplicity of procedures, limitations to witnesses, seeking experts’ opinions and questioning the disputants are among the main characteristics of arbitration.

But equally important is the fact that arbitration shortens the time needed for settling the dispute. It spares the disputants long periods of time, which are otherwise undergone, in waiting for long and adjourned court hearings. It is also feasible financially by relieving the parties from any unnecessary additional costs. Confidentiality and non-disclosure to third parties of information or trade secrets are additional merits.

International arbitration has also expanded in terms of coverage to address the increasing disputes arising from contracts of selling and distribution of goods, intellectual property contracts and commercial contracts. It has emerged as a main method for settling commercial disputes.

In addition, HE Dr. Abu-Ghazaleh talked about electronic arbitration and its advantages.

“The concept of electronic arbitration is the same as that of the traditional one. The difference is just in the means since e-arbitration is conducted in the world of virtual reality. No paper or physical procedures are needed. Even results and awards are signed electronically. This reliance on the ‘digital’ makes arbitration keep abreast more and more with the spirit of the age,” he concluded.

The first session moderated by Ms. Nida' Shraideh and hosted Dr. Feras Malahmeh and HE Dr. Amjad Shraideh meanwhile the second session witnessed the participation of Prof. Musleh Tarawneh and AGIP Executive Director Mr. Charles Shaban.

Meanwhile the closing statement was delivered by Mr. Mustafa Nasereddin, Executive Director of Talal Abu-Ghazaleh International/Amman Office.
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