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Alternate Dispute Resolution and FDI

41 0
19.02.2024

Alternative Dispute Resolution (ADR) is a valuable legal framework for settling disputes out of court and is crucial for resolving trade disputes in particular and increasing foreign investment in the country’s economy. This system of dispute resolution can be used in a variety of ways, including neutral evaluation, arbitration, mediation, and conciliation. ADR provides speedy resolution of all disputes and relieves the courts of the burden of managing a large number of cases that are beyond the scope of human expertise. In general, the procedures of arbitration, mediation, conciliation, and neutral evaluation are private, less formal and stressful than traditional court hearings, and they are widely accepted practically worldwide.

It is widely recognized without reservations that Alternative Dispute Resolution (ADR) presents a number of advantages over traditional litigation, which is settling disputes via the judicial system. Strong legal systems and effective dispute-resolution processes encourage investors to increase their investments. Moreover, ADR is more affordable for people, businessmen, investors and organizations with low funding or for those who would otherwise find it difficult to pursue traditional litigation due to linguistic or physical limitations. It provides a variety of options that can be customized to fit various requirements and situations. Unfortunately, Pakistan is falling behind in this regard, which has led to a lack of investment in the country.

There are also plenty of terrifying tales about the years that were lost during Pakistan’s arbitration award filing process or the court’s selection of arbitrators.

With almost two million cases waiting in Pakistan’s........

© Daily Times


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