BIAC launched to help settle disputes quickly

The country's first arbitration body -- Bangladesh International Arbitration Centre (BIAC) -- was launched on Saturday in the city aiming at the speediest settlement of business disputes as an alternative dispute resolution (ADR). International Chamber of Commerce, Bangladesh (ICC,B) is the lead player in implementing the county's first-ever such ADR system. Metropolitan Chamber of Commerce and Industry (MCCI) and Dhaka Chamber of Commerce and Industry (DCCI) are two other sponsors of the BIAC. Law, justice and parliamentary affairs minister Barrister Shafique Ahmed inaugurated the (BIAC) while Prime Minister's finance adviser Dr Mashiur Rahman was the special guest. The country's leading business persons, representatives from civil society, senior lawyers and bureaucrats were present during the inaugural function held at the city's Bangabandhu International Conference Centre (BICC). Addressing the ceremony, Barrister Shafique Ahmed said time has come to solve disputes through mediation and arbitrations. He said the new system is now practised in advanced and developing nations adding: "97 per cent disputes in Canada are resolved through mediations." He said mediations ensure win-win situation among the parties adding: "It also ensures speediest solutions to disputes." "We'll identify the sections of relevant laws which delay the settlement of cases and amend those so that none can intentionally delay the settlement processes. The law minister said they would place a bill in parliament in next session to amend procedural laws in this regard. Replying to a question Barrister Shafique said the government will amend laws to ensue quick settlement of the cases. "It takes too much time to settle a case. Piles of cases remain pending for settlement. We'll fix up timeframe for each stage and it will help ensure quick disposal of cases," he said. Barrister Shafique said the arbitration centre would help people, especially businesspeople both at home and abroad, through giving platform for resolving dispute. He said the arbitration centre will play an important role in settling disputes through mediations by expert mediators in a friendly manner without going to the court. "It's a timely step to settle disputes quickly. It will help ensure win-win situation for both parties," he said. Barrister Shafique suggested to bring about a change in the name of the centre adding: "The word domestic should be included in the centre to avoid confusion among the domestic parties." The chairman of the newly-formed BIAC, Mahbubur Rahman, who presided over the function said: "For the wheels of industry to move, we must have an effective mechanism for enforcement of agreements and dispute resolutions." He said arbitration is the most formalised system in the ADTR regime. He said any law is as good as the people and the institutions that support it and use it effectively. He said the arbitration act is no exception. The act contains useful provisions for ADR and it is vital for the business community that it be implemented effectively. Mr Mahbubur Rahman said the establishment of the BIAC would go a long way in meeting needs. He said the business community has long felt the need for proper arbitration facilities in the country. Mahbubur Rahman, who is also president of ICC,B, said the countries which have long history of such arbitration centres now undertake research and analysis and the essential services are required for making the process successful. "In selective cases, they have undertaken mediation and conciliation," Mr Mahbubur Rahman said. He said in the East, successful centres are operating in Singapore, Malayasia, Hong Kong and so on adding: "We are late in establishing our Centre, but I am hopeful of steady progress." Mr Mahbubur Rahman said: "Our own rules are ready and you will have the option of using our rules, if you should so choose." Nihad Kabir, representative of the MCCI said effective arbitration centre encourages foreign investments. She said qualified arbitrators would serve the exporters and importers and domestic business persons to solve disputes amicably. DCCI president Asif Ibrahim said the inauguration of the arbitration centre has added further step in settlement of trade disputes. He said the dream of local entrepreneurs has come into reality through establishment of the BIAC. Representative of IFC Paramita Dasgupta said this would create a new paradigm in service delivery and give a boost to business opportunity. Chief executive of BIAC Dr Toufiq Ali gave welcome address at the inaugural session. IFC is also supporting BIAC with its Climate Change Fund and UKAid and the European Union. Meanwhile, a BIAC note to media said when people face problems with their businesses or organisations, they look for a simple way out. If the difficulty arises out of contract or understanding between the two or more parties, they want a fair resolution. "Going to court may be a time-consuming and expensive way of seeking a solution, and that harms businesses. A quicker, yet legal, solution is available in Alternative Dispute Resolution of which Arbitration is the most formal. If the parties agree, they seek a resolution through Arbitration," the note said. It said BIAC's goal is to shape a responsive and well-managed secretariat with careful oversight for performance-based management. The note also said BIAC's physical facilities currently include two-state-of-the-art arbitration rooms, three consultation rooms and two exclusive chambers for the arbitrators.