EMAC Sets Course for Fast-track Arbitration
By Joseph R Fonseca
Monday, April 9, 2018
Continuing its work to provide the region’s maritime and legal communities the opportunity to learn more about arbitration, the Emirates Maritime Arbitration Centre (EMAC) hosted its fourth breakfast session of 2018 on April 8, at its offices in DIFC. The session focused on the application of the fast track arbitration procedure and its benefits.
In the world of maritime, where many operational and commercial transactions change hands, it is not always smooth sailing and sometimes disputes arise. Good business relationships stay intact when disputes are addressed quickly, and EMAC is strategically placed to facilitate quick dispute resolution through arbitration and mediation processes available in the Middle East.
“Fast-track arbitration ensures time and cost-effective resolution to smaller valued disputes,” said Majid Obaid bin Bashir, Acting Chairman and Secretary General, EMAC. “At EMAC, we are all about adding value to the sector; our rules grant the executive committee certain authorities to support in expediting the process and ensuring that disputes are handled in a seamless manner for the benefit of the parties and the sector as a whole.”
The Breakfast with EMAC seminar series will continue throughout 2018, with the next session scheduled for 24th June at the EMAC offices.