By Ebunoluwa Sessou
Chairman, Chartered Institute of Arbitration, Nigeria Branch, Mr. Olatunde Busari, SAN, has appealed to Micro, Small and Medium Enterprises, MSMEs to take advantage of the accelerated dispute resolution service offered by the CIArb Nigeria Branch given the undue delay experienced in the resolution of cases in the regular courts.
He made the plea at the launch of the CIArb Nigeria Branch/LCA Joint Expedited ADR-MSME Scheme and the signing of a Memorandum of Understanding between both organisations on August 24, 2020
Busari made the appeal at the event held at the Lagos Court of Arbitration in Lagos recalling that the MSMEs Arbitration Scheme which was launched in 2017 was developed by the CIArb Nigeria Branch to promote and facilitate access to cost-effective ADR and Arbitration for resolution of commercial dispute.
He said the scheme is ‘intended to provide simple, cost-effective and timely resolution of disputes within stipulated strict timelines (within 15-60 days) and is applicable to the resolution of disputes with the monetary value from N250,000:00 (two hundred and fifty thousand Naira) to N10,000,000 (ten million Naira) using either Mediation or Arbitration for a final enforceable decision on their matters.’
This according to him is to support the ease of doing Business Initiatives of the Federal Government and development of effective dispute resolution in the commercial sector.
He said CIArb and Lagos Court Arbitration (LCA) had since the launch of MSME in 2017 began ‘exploring ways of working together on the scheme to ensure that the knowledge and expertise of our members and the several Mediation and Arbitration Rules and Facilities of the LCA could be better deployed for the benefit of the community.’
Meanwhile, the President of Lagos Court of Arbitration, Dr. Wale Olawoyin. SAN while expressing joy at the signing of the MOU, noted that the ceremony signifies the beginning of a ‘collaboration between LCA/CIArb which will lead to more training, experience and exposure for members CIArb and also boost the efficiency and capacity of the LCA in fulfilling its core mandate of providing access to ADR services.’
The signing of the MOU according to him is also significant because of the ‘COVID-19 pandemic and social distancing regulations which have brought a rise in the use of virtual platforms which will ensure costs and time efficiency in dispute resolution.’
While noting that members of both organisations have been trained and equipped to operate in the virtual environment he encouraged and invited
‘Various professional bodies, accountants, architects, estate surveyors, entrepreneurs and members of the business community to make use of this scheme and benefit from the services of the LCA/CIArb Panel of (impartial and independent) neutrals and case managers with ethical standards and training in Expedited dispute resolution methods.’
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Source: www.vanguardngr.com
