US official lauds KSA effort on commercial arbitration

A visiting official from the US Department of Commerce said here that the services of the Saudi Center
for Commercial Arbitration (SCCA) are one of the key international measures to determine the ease of doing business in the Kingdom.
US Deputy Secretary of Commerce Bruce H. Andrews made the statement during his recent visit to the headquarters of the Saudi Center for Commercial Arbitration housed at the Council of Saudi Chambers.
During his discussions with SCCA CEO Majed Al-Rasheed, Andrews and his team were pleased to learn that these important services are now available for American and other investors in the Kingdom.
The SCCA offers all those doing business in the Kingdom with a vital service: The ability to quickly and cost effectively resolve any business disputes through arbitration and/or mediation rather than resorting to traditional litigation in the courts, whether in the Kingdom or elsewhere.  
“Alternative dispute resolution services are one of the key international measures to determine the ease of doing business in any country,” Andrews noted.
Al-Rasheed, who linked the SCCA’s services to the World Bank’s assessments, pointed out that the center’s contributions to attract local and foreign investors is a key component of Vision 2030.
The two parties discussed collaboration possibilities, and the service and facilities that the SCCA can offer to American investors, especially in light of its specialized understanding of local Sharia and legal requirements in the local market.
The SCCA is the responsible body for the supervision of domestic and international commercial arbitration under the auspices of the Council of Saudi Chambers (CSC). The SCCA was formed by the CSC with a board of nine directors. 
The board handles local and international commercial and civil disputes.
The SCCA board of directors was formed in consultation with the Ministries of Justice and Commerce and Industry, and also in coordination with the governor of the Saudi Arabian General Investment Authority (SAGIA).
Its jurisdiction will not cover disputes concerning administrative, personal and criminal cases and where reconciliation is not permissible.

Source: Arab News