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Contracts and Arbitration Forum in Saudi Arabia

Saudi Arabia recently promulgated a new arbitration law based on the United Nations Commission on International Trade Law (UNCITRAL) model.  The program addressed the benefits of effective commercial dispute resolution, the mechanics of drafting arbitration clauses, and the current and future practice of arbitration in Saudi Arabia.  Participants hailed from the Ministry of Justice, the Board of Grievances, Saudi Arabia General Investment Authority, MOCI, and other relevant Ministries.  The Saudi participants welcomed a mechanism to resolve commercial disputes in an efficient, effective, and fair manner.  Representatives from the Saudi and US governments emphasized how effective dispute resolution in Saudi Arabia can increase business transactions between the two countries and foster job creation.

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