Private sector keen on mediation for commercial dispute resolution
While going to court takes longer to resolve disputes between parties, the private sector shows keen interest on mediation for commercial dispute resolution, as it finds a solution to problems immediately, says Dhara Wijayatilake, Director and Secretary General, International ADR Center Sri Lanka.
During a media briefing held at the International ADR Center Sri Lanka office at the World Trade Center last Wednesday, Ms. Wijayatilake made this remark.
It was also mentioned that the resolution of disputes using the traditional method requires parties to go to courts. It’s well accepted now that the court procedure is riddled with delay, expense and unpredictability. These are features of litigation throughout the world, not just Sri Lanka. Globally, the search for alternatives to litigation began because of a deep seated dissatisfaction with litigation.
Mediation is increasingly used globally for the resolution of a wide range of disputes ranging from neighborhood and community disputes, family disputes to commercial disputes and investor-state disputes. Many international organisations have adopted its own rules for the conduct of mediations. Mediation offers a non-adversarial process that empowers disputing parties to reach a solution that’s to their satisfaction, with the assistance of an independent intervenient called the ‘Mediator’ who plays a non-coercive role using special skills and techniques. If a settlement is reached the parties sign a settlement agreement.
Sri Lanka is currently formulating legislation to define practice standards for the use of mediation and to also recognise the framework for enforcement of international settlement agreements resulting from mediation in line with the Singapore Convention, which Sri Lanka signed in 2019. With the enactment of these laws and the availability of ADR services of international standards to enhance commercial dispute resolution, Sri Lanka will emerge as a favourable destination that will be attractive for investment, trade and business.
The Commercial Mediation Symposium 2023 will kick off on Tuesday September 26 at the Hilton Colombo. The Symposium will discuss several aspects of mediation as a meaningful method of resolving commercial disputes.
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