Mediation fast, efficient, low-cost way to resolve disputes: QC chief Sep 17, 2020 0 7048 12345 Tribune News Network Doha Qatar is at the forefront of the signatories of the United Nations Convention on International Settlement Agreements Resulting from Mediation, Qatar Chamber Chairman Sheikh Khalifa bin Jassim Al Thani said on Wednesday. Also known as the Singapore Convention on Mediation, it came into force on September 12. Sheikh Khalifa pointed out that mediation is a fast, efficient, and low-cost way to resolve disputes between parties.Sheikh Khalifa said this during a webinar held by Qatar International Centre for Conciliation and Arbitration (QICCA) at Qatar Chamber to mark the International Law Day and celebrate the entrance into Singapore Convention. The virtual event was attended by many specialists, legal experts and arbitrators.Sheikh Khalifa stated that mediation has recently acquired increasing importance as one of the most important alternative means for settling commercial disputes. It has made many countries interested in adopting legislation related to mediation procedures through courts, or through arbitration centres specialised in resolving commercial disputes, he said.Underlining Qatar Chamber’s interest in arbitration, the QC chairman said that the chamber has established QICCA to encourage parties of the commercial relationship to activate the mediation principle in resolving disputes.Speaking on the occasion, QICCA Board Member for International Relations Sheikh Thani bin Ali Al Thani said that Qatar was among the first three countries that ratified the Singapore Convention.He affirmed that the ratification means enforcing the settlement agreements resulting from mediation in world countries, starting with the three countries that have ratified this agreement, namely Singapore, Fiji and Qatar.He said that Qatar’s accession to this convention would open new perspectives for arbitration and settlement as one of the alternative means of resolving disputes, thus providing an appropriate environment for the success of commercial businesses. “As many as 53 countries signed Singapore Convention. This indicates that world countries are interested in adopting mediation and conciliation as means of settling disputes between commercial companies, economic entities and financial institutions,” he said.A number of topics related to mediation as a way of resolving disputes were discussed during the webinar. The speakers gave a presentation on the beginning of mediation in Qatar as the first step for resolving disputes, which was followed by the judicial system in 1971.The speakers indicated that due to the progress of societies and expansion of legislation, the number of cases increased, and accordingly the alternative means for dispute settlement such as arbitration and mediation emerged.The speakers also highlighted the differences between mediation and other alternative means of dispute settlement such as arbitration, noting that the low cost of these means and the speed of their procedures contributed to the increasing spread of the culture of arbitration and mediation.Additionally, the speakers highlighted the impact of Singapore Convention on encouraging mediation in the Arab World, the role of Singapore Convention in enhancing the efficiency of mediation and arbitration clauses and Qatar’s positive and effective role as it is the third country to ratify the convention. Pages 1234 RELATED ARTICLES Steep rise in Qatar-Turkey trade over one decade: Turkish envoy Sep 17, 2020 0 6351 GCC sovereign sukuk issuance to rise in H2 of 2020: Moody’s Sep 17, 2020 0 817 Real estate trade volume exceeds QR617 million in a week Sep 17, 2020 0 710 Crude oil price recovery above $50 unlikely this year: Saxo Bank Tribune News Network Doha Gulf countries face a challenging few months in balancing their economies with oil prices likely to remain under pressure and a price recovery above $50 per barrel not expected before the end of ..