Commercial Arbitration Center Signs Cooperation Agreement with the Gulf Bar Association

The Commercial Arbitration Center (CAC), affiliated with the Riyadh-based Gulf Cooperation Council (GCC), has signed a cooperation agreement with the Gulf Bar Association. The agreement, which was signed recently at CAC headquarters in Manama, emphasizes the need for the two parties to exchange technical expertise. According to the agreement, the two parties will work to encourage the business sector to use arbitration as a means of resolving disputes, including the arbitration clause in their contracts with third parties, in accordance with CAC rules and procedures. The agreement also highlights the need to train and qualify arbitrators, experts and secretaries, and develop an executive plan for the projects, activities and programs scheduled to be implemented. CAC stressed its keenness to hold fruitful meetings and gatherings with the concerned parties to enhance joint coordination and cooperation in commercial arbitration, examining institutional alternatives to settling commercial disputes in GCC member states, and lending support to the investment environment, economic growth and prosperity in the region. Source: Saudi Press Agency