Experts have suggested private sector to settle dispute outside courts to save time, labour and money, whereas private sector will also benefit from commercial mediation.
Commercial entities will benefit from commercial mediation as the conflicting parties do not have to go through court procedures while settling their disputes and save time, labour and money, according to the private sector.
"Commercial entities will benefit from commercial mediation as the conflicting parties do not have to go through court procedures while settling their disputes," FNCCI president Bhawani Rana said addressing an interaction on the importance and challenges of mediation in commerce and the industrial sector organised by Federation of Nepalese Chambers of Commerce and Industry (FNCCI) in Kathmandu today.
"The cost as well as time will be saved if such disputes are settled outside the court,” she said, adding that the event had been organised to raise awareness among stakeholders regarding the importance of commercial mediation.
The Mediation Act came into effect in 2014.
Discussing on a working paper on ‘Commercial Mediation in the field of Commerce and Industry: Its Importance and Challenges’ presented on the occasion, they said that the mediation has become effective in commercial sector.
Acting Chief Justice Deepak Raj Joshee said that mediation has become practically effective in the commercial sector. "It has been accepted as the latest concept of alternative justice system after 1970s,” he said, adding that law relating to mediation has been implemented with an aim at solving misunderstandings and conflicts without hampering time, labour and tools. "It has increased people’s access to justice."
Similarly, Justice Anil Kumar Sinha, on the occasion, suggested that the FNCCI proceed with organisational commercial mediation.
A mediation expert Matrika Niraula also said that mediation is very important and effective medium to settle commercial disputes as court procedures are time consuming and very expensive.
Commercial entities will benefit from commercial mediation as the conflicting parties do not have to go through court procedures while settling their disputes and save time, labour and money, according to the private sector.
"Commercial entities will benefit from commercial mediation as the conflicting parties do not have to go through court procedures while settling their disputes," FNCCI president Bhawani Rana said addressing an interaction on the importance and challenges of mediation in commerce and the industrial sector organised by Federation of Nepalese Chambers of Commerce and Industry (FNCCI) in Kathmandu today.
"The cost as well as time will be saved if such disputes are settled outside the court,” she said, adding that the event had been organised to raise awareness among stakeholders regarding the importance of commercial mediation.
The Mediation Act came into effect in 2014.
Discussing on a working paper on ‘Commercial Mediation in the field of Commerce and Industry: Its Importance and Challenges’ presented on the occasion, they said that the mediation has become effective in commercial sector.
Acting Chief Justice Deepak Raj Joshee said that mediation has become practically effective in the commercial sector. "It has been accepted as the latest concept of alternative justice system after 1970s,” he said, adding that law relating to mediation has been implemented with an aim at solving misunderstandings and conflicts without hampering time, labour and tools. "It has increased people’s access to justice."
Similarly, Justice Anil Kumar Sinha, on the occasion, suggested that the FNCCI proceed with organisational commercial mediation.
A mediation expert Matrika Niraula also said that mediation is very important and effective medium to settle commercial disputes as court procedures are time consuming and very expensive.
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