News & insights
Saudi Arabia: Establishment of Commercial Arbitration Center
July 30, 2014
Arbitration has become more efficient in resolving conflicts in the Kingdom of Saudi Arabia after the establishment of the first Commercial Arbitration Center.
Walkthrough of the Saudi Commercial Arbitration Center:
· The Center’s head office is location in Riyadh, but the Council of Ministers seeks establishing branches in other parts of the Kingdom
· The Council of Chambers of Commerce and Industry directors will run the center
· The Ministry of Justice will handle the issuance of licenses for the center
· The directors will regulate the arbitration and incurring fees and expenses
· The concerned ministries will also provide arbitral aids funded be the government to those involved with claims.
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