Thursday, July 19, 2018 03:40 PM

Ceylon Chamber and ICLP join to promote arbitration and contract enforcementAlternative disputeresolution expected to make SL more attractive to investorsCentre to improveawareness, conduct workshops and academic courses

By Divya Thotawatte

The Ceylon Chamber of Commerce (CCC), in partnership with the Institute for the Development of Commercial Law and Practice (ICLP), yesterday launched the CCC-ICLP Alternative Dispute Resolution (ADR) Centre to promote efficient commercial dispute resolution and by extension attract investment.

CCCCEO Dhara Wijaya-tilake, speaking on the potential of ADR, said: This is a joint initiative of the CCC and ICLP for the development of commercial law and linked practices. The main purpose is to provide services outside the courts of law for the resolution of commercial disputes. We have the adversarial procedure thats followed in the courts and ADR has become popular all over the world because of the potential it offers to deal with the twin evils of the litigation system that causedelays and is expensive.

The centre will consist of a fully-trained panel of arbitrators and mediators who will function to deal with commercial dispute resolution.

Putting this in perspective, if we look at the ease of doing business, when it comes to contract enforcement, we are very poor and we have a ...