ECONOMYNEXT – Colombo-based International ADR Center (IADRC) will host a national symposium on commercial mediation on January 29 on the use of mediation in commercial dispute resolution with an aim to create awareness on the benefits of such efforts in businesses instead of going for litigation in courts, officials said.
The International ADR Center has been in the process of promoting mediation in commercial disputes for litigation which takes years to resolve in Sri Lankan context.
The upcoming symposium is designed to demystify mediation across various contexts with details on the benefits it has over litigation.
“Globally, mediation has become an increasingly popular alternative to litigation and other adversarial dispute resolution processes that often take time and cost,” International ADR Center said in a statement.
“It’s accepted as being meaningful because of benefits such as ensuring party autonomy, facilitating better communication between disputants, being cost-effective and time efficient, and has the potential to preserve business relationships and save cost to the governments.”
The IADRC has engaged in mediating eight disputes since its start, Dhara Wijayatilake, Director and Secretary General of IADRC said.
“It is not a place like a court of law or arbitration where you look at what your legal rights are and insist on that position and argue right through until your arguments are accepted or rejected. The (disputed) parties and mediators work together to identify what issues are in the dispute,” Wijayatilake told reporters, explaining the mediation process.
“General acceptance is that mediation finishes very fast, sometimes in a day, sometimes in a week, sometimes in a month or it will take a little more. But never, never years.”
She said there has been an increasing trend in businesses incorporating clauses with regard to dispute resolutions in legal documents.
The IADRC also said the new initiatives will contribute to Sri Lanka, improving its Doing Business environment and being accepted as an investment-friendly country, which, with the significant advantage of its strategic location to become a hub and attracting international business and fostering economic growth. (Colombo/January 23/2025)
