Alternative Dispute Resolution for Business
The Financial Express
April 11, 2011
Bangladesh moves toward institutionalizing ADR with the launching of the Bangladesh International Arbitration Centre (BIAC) at the initiative of International Chamber of Commerce. Adjudication of matters in Bangladeshi courts has proved slow-going, with some litigants not receiving a verdict in their lifetime.
As the “first ever mechanism to find settlement of business disputes through mediation and consultation between the litigants directly with the help of an arbitration body,” this new institution will help the over-burdened legal system and hopefully improve business activities.