Arbitration center in Dhaka, Bangladesh

Arbitration is one of the most effective ways of alternative dispute resolution by the arbitration center in Bangladesh. The arbitration center in Dhaka, Bangladesh is playing essential roles to extend the scopes of arbitration center in Bangladesh for ensuring effective Arbitration procedure. Moreover, Arbitration is one of the paramount ways of Alternative Dispute Resolution (ADR) to address the challenges of resolving commercial disputes.

Bangladesh Institute of Arbitration (BIArb) is such an institution where both the parties and arbitrators can work together in order to ensure a long term solutions to the disputes of the parties in the arbitration center in Bangladesh. As the Arbitration process itself, is a combined result of co-operations between the parties and the arbitrators of arbitration center in Bangladesh, as a result the level of gratification the parties are higher in the arbitration process rather than the court procedure within the arbitration center in Bangladesh.

Benefits of Arbitration Center in Bangladesh:

1. Impartiality: It is noteworthy to mention that if any conflict of interest arises in the arbitration procedure in the arbitration center in Bangladesh then the arbitrator in Bangladesh has to step down from that particular arbitration procedure for ensuring impartiality within the procedure of arbitration center in Bangladesh.
2. Time and Cost-efficiency: Since the Arbitration procedure is flexible other than the complex court procedure consequently the arbitration procedure is faster and cheaper.
3. Confidentiality: Arbitration is not an open court procedure rather it is a private hearing where the disputes between the parties’ remains private and this ensures confidentiality of the case held in the arbitration center in Bangladesh.

Arbitration center in Bangladesh

Conclusion

However, to develop the arbitration process of Bangladesh, Bangladesh Institute of Arbitration (BIArb) is playing vital role among Arbitration institute in Bangladesh which are dealing with the process of arbitration. A number of experienced arbitrator in Bangladesh works with BIArb and they help facilitating the arbitration center in Bangladesh being more effective. It is also necessary that the national courts should encourage arbitration as a method of conflict resolution since this can be an effective way to manage the overwhelming amount of pending cases which are backlogged in the courts.