Maritime Arbitrators Urges Port Stakeholders to Embrace ADR in Solving Trade Disputes
The Maritime Arbitrators Association of Nigeria (MAAN) has highlighted the importance of Alternative Dispute Resolution (ADR) in the promotion and sustainability of effective and efficient business relationships between stakeholders, port users, cargo owners and ship owners in the Nigerian maritime sector.
President of MAAN, Mr Bodunrin Adewole FCIArb, made the call in a press statement issued in Lagos.
Adewole also restated the commitment of MAAN to the promotion and sustainability of international best practices in maritime arbitration and ADR through the creation and establishment of an International Maritime Arbitration and Dispute Resolution Centre in Lagos.
The MAAN President stressed that rather than resorting to litigation, stakeholders and port users should embrace ADR in settling disputes in trade contracts between themselves, publics and with the federal government.
He also urged parastatals under the Federal Ministry of Transportation especially; Nigerian Shippers Council, Nigerian Maritime Administration and Safety Agency (NIMAS) and Nigerian Port Authority (NPA) to also apply ADR in their agreements, adding that ADR is a much cheaper and faster way of dispute resolutions.
It is expected that when put in place, the International Arbitration Center would actually benefit the Federal Ministry of Transportation with all it’s existing contacts especially as it concerns disputes arising from execution of contracts.
The Theme for the seminar was, “ADR to the Rescue, Effective and Efficient Business Modes in the Maritime Eco Space.”
In his welcome address at the seminar, Mr Adewole informed participants that the topics in this year’s seminar focuses mainly on the recent developments in the operational activities of the collaborating stakeholders.
He also informed participants that MAAN and its collaborating stakeholders are committed to the promotion and sustainability of international best practices in maritime arbitration and ADR through the creation and establishment of an International Maritime Arbitration and Dispute Resolution Centre in Lagos.