The GCC Commercial Arbitration Centre has received arbitration claims worth $5.5 million during the first three months despite the current scenario due to Covid-19, thus indicating the growing trust of the instrument of dispute resolution. 

 

The GCC Commercial Arbitration Centre has received arbitration claims worth $5.5 million during the first three months despite the current scenario owing to Covid-19 pandemic. 

 

These arbitration claims, which consists of four disputes, indicate the growing trust of the instrument of dispute resolution, said the statemment from Bahrain-headquartered GCC Commercial Arbitration Centre. 

 

It was set up in 1995 by the GCC Supreme Council to provide sector companies in the Gulf region with a quick mechanism to resolve commercial disputes transparently.

 

Secretary General In charge Nasser Al Mogahwi said the arbitration centre has been strictly following its 'not more than only one claim each month' policy.

 

Al Mogahwi pointed out that it was able to use its vast cumulative experience to adapt with current crises (Covid-19 epidemic) and not let it affect the main services that are provided.

 

This was accomplished by managing the arbitration procedure using the modern technological methods to perform most of the tasks such as, submitting arbitration requests, paying the arbitration expenses, holding arbitration hearings, submitting documents and producing arbitral awards, said the top official. 

 

The arbitral tribunal continued holding arbitration hearings which consisted of parties from outside Bahrain such as Yemen, Saudi Arabia and the UAE, he added.-TradeArabia News Service