Saudi Centre for Commercial Arbitration (SCCA) and the International Center for Dispute Resolution (ICDR) enter new phase of their relationship

Saudi Centre for Commercial Arbitration (SCCA) and the International Center for Dispute Resolution (ICDR) enter new phase of their relationship

Published Date: 10/10/2019

The Saudi Center for Commercial Arbitration has begun a new chapter of its relationship with the International Centre for Dispute Resolution (ICDR) in New York which reflect the great achievements of the Saudi Center over the last 5 years.  The first of its kind in the Kingdom, these achievements include developing and operationalizing the SCCA in accordance with the best international standards and practices in the commercial arbitration industry - as well as SCCA’s ADR caseload involving dozens of parties from around the world.

 

The Saudi Center for Commercial Arbitration announced the signing of its cooperation agreement with the International Center for Dispute Settlement (ICDR), the international arm of the American Arbitration Association (AAA), recently, at the Headquarters of the International Center in New York City, in a move that will consolidate the relationship that began during the establishment of SCCA five years ago as the SCCA advances its position in the commercial arbitration industry locally and regionally, and upgrades its benchmark in providing alternative dispute resolution services in the Kingdom and wider region.

 

The International Center for Dispute Settlement (ICDR) is one of the largest institutional arbitration centers around the world, the international arm of the American Arbitration Association (AAA), and a pioneer in providing transnational dispute settlement alternative services.

 

 

The cooperation agreement was signed by Dr. Hamed Meera, CEO of SCCA and Mr. Eric Tuchmann, Senior Vice President and General Counsel of the AAA-ICDR, in the presence of a number of leaders and officials of SCCA and ICDR/AAA.

 

The cooperation agreement between the two parties provides for continued efforts and activities related to the advancement of the commercial arbitration in the Kingdom and throughout the region. The Saudi Center links its achievements with the objectives of the Kingdom's national transformational development programs, notably Saudi Arabia’s Vision 2030, especially with regard to the creation of an encouraging environment for long-term investment and the role of ADR in facilitating business investment and activity.

 

Commenting on this occasion, Mr. Yasin Khayat, Chairman of SCCA, said: “The Center prides itself on its strategic relationship with one of the largest institutional arbitration institutions in the world, and is working to fulfill this key relationship to further develop SCCA’s business while maintaining it as a benchmark reference for institutional arbitration and the best international partner in the region.

 

Mr. Yasin Khayat added that the cooperative relationship with the ICDR dates back to the first months of the SCCA, after the approval of the distinguished Council of Ministers, as the Center took it upon itself to build an institutional framework and system that conforms to the best standards and practices internationally.

 

Mr. Khayat noted that the SCCA, after careful research, chose one of the oldest and most respected arbitration institutions in this sector around the world, the American Arbitration Association, and its international arm, the ICDR, to develop this distinguished relationship resulting in the development the ADR rules of the Center's services, including arbitration and mediation rules and ethical conduct standards for arbitrators and mediators based on the rules, procedures and charters of the International Centre.

 

For his part, Mr. Eric Tuchmann welcomed the continuation of the relationship  between the International Centre for Dispute Resolution and the Saudi Center for Commercial Arbitration, and this agreement is an additional step towards ongoing cooperation between the two parties.

 

Mr. Tuchmann added that the International Center for Dispute Settlement continues to play its role as a bridge to the deep knowledge and extensive experience of the American Arbitration Association with institutions around the world, including working to establish the foundations of commercial arbitration internationally, and to provide for the diverse and evolving needs of all business sectors.