GCCCAC provides a ‘faster’ method to resolving disputes | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN – News of Bahrain- DT News

GCCCAC provides a ‘faster’ method to resolving disputes | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN – News of Bahrain- DT News

Inserting GCCCAC Arbitration clause in commercial agreements will allow investors and traders "a faster method for resolving disputes" if such a situation arises, said GCCCAC's Bahraini board member.. Sami Zainal, the GCC Commercial Arbitration Centre's (GCCCAC) Bahraini board member, said there is a constant increase in the number of arbitration requests received by the agency which also shows the trust of the business owners and official agencies in GCCCAC.. From 1 January to 31 December 2019, the GCC Commercial Arbitration Centre (GCCCAC) have received 16 requests cumulatively worth 62.5 million US dollars.. Individuals or companies that included in the requests where from Bahrain, Saudi Arabia, India, Oman, and United Arab Emirates.. Zainal said the organisation continues to recommend investors and trade people, to insert the GCCCAC Arbitration clause in their agreements, which will offer them a faster method for resolving such disputes.. On the nature of disputes, Zainal said the disputes were related to subscription contracts, real estate development contracts, engineering contracts, contracts of sale (purchasing a flat), contracts for the supply of goods and project implementation contacts.. The real estate sector and the infrastructure are other areas that been impacted, both commercially and financially.. "Many disputes and arbitration requests