MAWANI Signs MoU with Saudi Center for Commercial Arbitration

Economics News
Published 2 Jan 2022
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MAWANI Signs MoU with Saudi Center for Commercial Arbitration

The Saudi Ports Authority, MAWANI, today announced the signing of a memorandum of understanding (MoU) with the Saudi Center for Commercial Arbitration (SCCA). Considered a transformational step for Saudi ports, the agreement serves to establish a framework for coordination, provide alternative means for settling disputes that arise between the various facilities engaged in maritime transport activities and ports, and define a methodology for cooperation between the two parties.
The MoU plays an essential role in achieving the authority's objectives of developing maritime transport and import/export operations, enhancing the capabilities of member ports, and contributing to the national economy. It also contributes to SCCA's endeavor to develop national ADR capacities by providing ADR services, legal training, and awareness events leading towards creating a safe environment that attracts both foreign and domestic investment to the Kingdom.
MAWANI and the SCCA agreed to strengthen communication and cooperation between the two parties, develop alternative practices for and facilitate the settlement of commercial disputes, and raise awareness of these frameworks among establishments engaged in maritime transport and port activities.
According to guidelines set out in the MoU, the two parties agree to cooperate in: Developing and circulating improved model dispute settlement terms, creating the appropriate environment for the efficient settlement of disputes, especially those related to the import/export business and the governance of contractual relationships through arbitration or mediation, in line with international best practices, and providing authority members with appropriate training in the alternative practices for dispute settlement. This is in addition to developing the skills of authority staff and those concerned with the maritime transport and ports sector, conducting seminars and related events for this purpose and knowledge sharing between the two parties through workshops, periodic meetings and educational courses.

Last Modified Date: 04/01/2022 - 7:32 AM Saudi Arabia Time


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