MAWANI signs MoU with Saudi Center for Commercial Arbitration

MAWANI signs MoU with Saudi Center for Commercial Arbitration

Riyadh : The Saudi Ports Authority, MAWANI, today announced the signing of a memorandum of understanding (MoU) with the Saudi Center for Commercial Arbitration (SCCA). Considered a transformational step for Saudi ports, the agreement serves to establish a framework for coordination, provide alternative means for settling disputes that arise between the various facilities engaged in maritime transport activities and ports, and define a methodology for cooperation between the two parties. The MoU plays an essential role in achieving the Authority's objectives of developing maritime transport and import/export operations, enhancing the capabilities of member ports, and contributing to the national economy. It also contributes to SCCA's endeavor to develop national ADR capacities by providing ADR services, legal training, and awareness events leading towards creating a safe environment that attracts both foreign and domestic investment to the Kingdom MAWANI and the SCCA agree to strengthen communication and cooperation between the two parties, develop alternative practices for and facilitate the settlement of commercial disputes, and raise awareness of these frameworks among establishments engaged in maritime transport and port activities. According to guidelines set out in the MoU, the two parties agree to cooperate in: Developing and circulating improved model dispute settlement terms. Creating