March 13th, 2011 06:47 pm
By Salah al-Khuzaei
By Salah al-Khuzaei
Najaf – Najaf province opened on Saturday the first International Commercial Arbitration Center in Iraq to settle the disputes over contracts and investment companies inside and outside Iraq according to the arbitration way adopted in the world with the participation of the French ambassador and representatives of the Dutch Embassy and economic, political, and cultural personalities outside Iraq.
Mouhammed Jawad al-Turaihi, the head of the Arbitration Center told AKnews that the Arbitration Center is not substitute for the judiciary, but the judicial process take wider areas and the Center has more speed until they reach a solution and will take ranges on the objection and appeal and discrimination, and the procedures of the court are under way for longer term which affect the commercial issues and cause material losses that multiply with the passage of time.
About the work mechanism of work of the Center al-Turaihi said that “if there was a conflict, then a request will be sent to the Arbitration Center under the title of Secretary General Zuhair Sarba, that turn it in turn to the arbitrators who are usually choosen by the rivals, and then refer the file to the Arbitration Board which is a body of specialists from judges and others who discuss the report and issue the resolution.”
About the work mechanism of work of the Center al-Turaihi said that “if there was a conflict, then a request will be sent to the Arbitration Center under the title of Secretary General Zuhair Sarba, that turn it in turn to the arbitrators who are usually choosen by the rivals, and then refer the file to the Arbitration Board which is a body of specialists from judges and others who discuss the report and issue the resolution.”
“The decision needs to review the Court and issue judiciary order to approve it and this is binding. The topic was dealt with Code of Civil Procedure in Iraq, and there is a project called the Arbitration Act but it was not issued until now despite the completion of its preparation” stressing on that “the arbitration Center will be helpful to eliminate shorten the time and effort.”
While Hussein al-Amili, a member of the jury committee at the International Center in Lebanon said that “the arbitration center in Najaf is the first of its kind in Iraq and it is interested in resolving administrative, legal and investment problems of labor disputes, and it is an important step depending on the circumstances that Iraq went through.”
“The global economy is opened today and a lot of barriers and laws that hinder the movement of international trade and investments and the global economy were removed, and the others are more vulnerable to extinction soon,” adding that “Iraq needs investment and companies operating in diverse sectors.”
“The Iraqi competencies need to organize things and keep up with innovations that have taken place on the laws, and economic legislation in the world, and the idea of establishing the center is practical and insight into the things that take into account the requirements of the economic situation in Iraq and requirements of human rights, because the economy needs legislation, and the Iraqi leagl legislation was not in line with the international commercial arbitration and the commercial arbitation become a way to help the commercial judiciary and not a substitute for it, and it is a help that shorten a lot of time and restore rights to their owners soon depending on the laws that take into account the rules of arbitration.”
“The international commercial arbitration center deal with many international centers around the world, in Cairo, Abu Dhabi, and Paris, and it has opened channels of communication in Beirut, and there were training sessions there.”
While the secretary-general of the Center and head of the Najaf Commercial Chamber Zuhair Shurba told AKnews that “the business and the diversity of contracts and investments affect later the commercial work, and the needs requirements impose cooperating with international arbitration centers, so it was necessary to find a separate party that organize the process of resolving conflicts, to save time for the judiciary and be a tool to help it, especially that the parties of the conflict accepted returning to the center.”
About the actual need of the Center Shurba said that “the purpose is to activate the Iraqi investment law, because the presence of law is not sufficient alone to promote the investment in Iraq, and one of the basic supplies in its success is the presence of arbitration centers that contribute in resolving the disputes if they existed.”
© AK News 2011
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