biz disputes by mediation preferable
in business disputes should resolve their differences through mediation
rather than costly and time consuming litigation, the Ceylon Chamber
of Commerce said.
should take extreme care in handling disputes at the initial stages
since if people directly involved in a dispute engage in unnecessary
arguments and damaging correspondence they will soon reach the point
when there is no hope of a reconciliation, it said in a statement.
relationships, whether they are long standing or new, should be
preserved and it is in the interests of both parties to handle disputes
in a manner which will not damage them."
said companies should make use of the several alternative dispute
resolution mechanisms available today, such as mediation, conciliation
Mediation Centre was established on the initiative of the business
community to conduct proceedings to settle disputes by mediation
and conciliation. These services are quick, inexpensive, private
to the centre are trained in conflict resolution and are drawn from
the Ceylon Chamber of Commerce, Ceylon National Chamber of Industries,
Federation of Chambers of Commerce and Industry, and the National
Chamber of Commerce.
an honorary service for the benefit of the business community.
said that at the first sign of a dispute, the parties are advised
to obtain the assistance of a neutral third party as mediator, and
mediate the dispute.
If the dispute
is mediated before relationships are strained, the parties are more
likely to work together to resolve it with the assistance of the
the parties themselves generate options and find a solution acceptable
only assists in the process of searching for a solution.
involved in disputes may prefer a neutral third party, the conciliator,
suggest a solution to the parties, who are free to accept it or
reject it. This process is known as conciliation.
officers and departmental managers could play a major role in the
careful handling disputes at the initial stages and seek the services
of a mediator or conciliator to resolve them.
said that whenever there are signs of a dispute, the CEO of the
company should become aware of it from the very outset and be able
to assess the impact of the dispute on the company. He must decide
whether it is of such magnitude that he should take the problem
immediately under his wing or delegate it to another.
in disputes should remember to avoid arguments and correspondence
which could disrupt the relationship, take the problem away from
those directly involved in it and entrust it to someone who is able
to look at it objectively, and gather all documentary evidence relating
to the problem and keep in safe custody.
In the past,
after taking all the wrong steps, parties consulted their lawyers
and filed action in court. At the end of a year or two, when the
costs of litigation begin to mount, the parties would explore ways
and means of settling the case with the other party.
majority of the cases filed in court end up in this manner,"
the chamber said. "Wouldn't it be better to settle cases amicably
in the first instance?"
taking good shape
national employment sourcing and delivery system that was launched
in Agalawatte recently, has attracted a good response from job seekers
Centre has matched several job seekers to suitable posts and is
making substantial progress in processing applications that are
coming in from job seekers and employers, said the Ceylon Chamber
of Commerce, which is managing the project.
a national employment project managed by the private sector for
the benefit of job seekers and employers based on a completely transparent
system, driven on the principle of meritocracy, it said in a statement.
is expected to be fully operational by the end of April.
designed as a public-private sector initiative aimed at establishing
an efficient system to set up a job bank and a data bank of unemployed,
underemployed and "disenchanted" labour, the Chamber said.
with JobsNet could upload their job vacancies to the JobsNet system,
which offers a job bank with direct input by job seekers or service
centre assistants. It also permits job seekers to obtain company
profiles and search systems for suitable matches.
also direct candidates to training institutes and career guidance
services and support those seeking self-employment with information
and relevant assistance.
It is planning
to establish a computer-based service network of 17 "Rekiya
Piyas" or JobsNet Service Centres to provide easier access
to Sri Lankans seeking employment and for employers seeking persons
to be employed both locally and abroad.
can be used in Sinhala, Tamil and English.
Chamber of Commerce said it is looking for dynamic professionals
to join the JobsNet.
is an initiative of the Ministry of Employment and Labour with initial
funding from Norway.
Labour Organisation is helping to train the customer care staff
of the JobsNet project.
company to manage Mahapola funds
Trust Fund has floated a new fund management company to better utilise
its financial resources and seek opportunities for future diversifications.
Director General Mahapola, Ms. Shamila Perera said the new company
was a proposal of Commerce and Consumer Affairs Minister Ravi Karunanayake.
It will manage the investment of funds under the Mahapola Board
of trust, which was split into Mahapola Treasury Division and Mahapola
Board Of Management last year, with the view to separate scholarships
and other activities of the fund.
Ministry statement said under the reforms, the treasury division
will look after the scholarship activities and the Mahapola Board
of Management, while a new organisation will be established to manage
a range of activates including skills development, vocational training,
school development and the Mahapola trade fair so far conducted
by the ministry.
The Fund was
established in 1981 by an Act of Parliament Act aimed at administrating
the Mahapola scholarships for university students and to conduct
various projects for the benefit of youths, students and academic
debenture issue from Seylan Merchant Leasing
Leasing Limited (SMLL), a subsidiary of Seylan Merchant Bank (SMB),
has announced the launch of a new issue of four-year unsecured,
subordinated, redeemable and unlisted debentures to the value of
Rs. 50 million to raise funds for the company's leasing activities.
The new debentures of Rs. 100 denomination carry an option to raise
a further Rs. 50 million in the event of an oversubscription. Interest
rates would range from 14.5 percent, with interest payment annually,
to 14 percent, with interest payment monthly. The minimum subscription
is Rs. 10,000. Seylan Merchant Leasing was incorporated on July
31, 2000 and commenced operations in August 2000.
It wants to
develop and market a diverse range of value-added leasing products.
The company declared a post tax profit of Rs. 6.52 million for the
first six months of 2002.
has been registered by the Central Bank of Sri Lanka as a Registered
Finance Leasing Establishment under the Finance Leasing Act No.
56 of 2000.