SYNOPSIS ABOUT THE INVESTORS' DISPUTES SETTLEMENT CENTER AFFILIATED TO THE GENERAL AUTHORITY FOR INVESTMENT AND FREE ZONES
In an effort to complete the array of services provided by the General Authority for Investment and Free Zones ("GAFI") to improve the investment climate, the Investors' Dispute Settlement Center was established in 2009 to settle the disputes that may arise between investors through mediation.
When establishing the Center's Mediation Rules, consideration was given to the most recent developments in international practice and comparative legislations, along with the recommendations of the United Nations Commission on International Trade Law ("UNCITRAL").
Mediation is one of the alternatives to dispute resolution through courts, where a neutral person "Mediator" assists the parties in dispute in their quest for an amicable and quick settlement of their dispute in order to save their time, money and effort, without prejudicing their right to resort to litigation.
Since the objective of mediation is to reach an expedited solution that originates from the parties in dispute in a manner that fulfills their interests and spares them litigation's complicated, lengthy procedures and unpredictable outcomes, it is advisable to regulate mediation to ensure a degree of procedural certainty while not undermining mediation's desired goals. We found it, therefore, necessary to regulate the mediation process and the obligations of all those participating in mediation through the following rules.