Arbitration in Bangladesh

Overview of Arbitration

Arbitration is an effective method for resolving disputes between parties outside the court system, offering a quicker and often more cost-effective alternative. In Bangladesh, arbitration has been recognized in family law matters since 1985, covering issues such as dissolution of marriage, maintenance, and custody. However, commercial arbitration is primarily governed by the Arbitration Act of 2001, the Artha Rin Adalat Ain of 2003, and the Code of Civil Procedure Amendment Act of 2003.

Importance of Arbitration in Bangladesh

1. Faster Resolution: Arbitration can resolve disputes more quickly than traditional court proceedings, which can be lengthy and complex.
2. Cost-Effective: It generally incurs lower costs compared to litigation, making it a financially viable option for many parties.
3. Confidentiality: Unlike court proceedings, arbitration offers confidentiality, protecting sensitive business information and preserving reputations.
4. Expert Decision-Making: Parties can select arbitrators with expertise in the relevant field, ensuring knowledgeable and informed decisions.

Key Benefits of Using Arbitration Services

• Legal Expertise: While it is not mandatory to hire a lawyer for arbitration, having an experienced legal professional can enhance the likelihood of a favorable outcome.
• Proper Documentation: A skilled lawyer can draft and prepare all necessary documents and claims, ensuring compliance with legal standards and arbitration rules.
• Navigating Complex Procedures: Arbitration involves specific procedures and regulations; an experienced attorney can guide clients through these complexities effectively.
• Protection of Rights: Lawyers can help safeguard clients' rights and interests, particularly in cases involving interim relief or enforcement of awards.

Risks of Not Using Arbitration Services

1. Legal Complications: Without professional assistance, parties may face procedural mistakes that could jeopardize their claims or defenses.
2. Ineffective Representation: Lack of legal expertise can lead to inadequate presentation of cases, diminishing the chances of achieving desirable outcomes.
3. Wasted Resources: Inexperienced handling of the arbitration process can result in additional costs and time delays.
4. Non-Enforcement Issues: Navigating the enforcement of arbitral awards can be challenging; legal support is crucial to ensure compliance with judicial standards.

Our Arbitration Services

We provide a comprehensive range of arbitration services, including:

• Drafting and Serving Notices: Initiating arbitration proceedings on behalf of clients.
• Arbitration Agreements: Drafting and vetting agreements to ensure they meet legal requirements.
• Advisory Services: Providing guidance on the appropriate seat and rules applicable to arbitration.
• Representation: Presenting claims before arbitration tribunals.
• Document Scrutiny: Vetting and reviewing all supportive documents and materials related to the arbitration case.
• Conducting Hearings: Representing clients in hearings before arbitration tribunals.
• Drafting Claims and Defenses: Preparing necessary documentation for both claims and defenses.
• Execution of Awards: Assisting in the enforcement of arbitral awards.
• Legal Opinions: Offering insights on various aspects of arbitration matters.
• Interim Relief: Assisting clients in obtaining interim relief and navigating court proceedings that violate arbitration clauses.

Our Process

1. Initial Consultation: Assessing the dispute and understanding the client’s needs.
2. Documentation Review: Gathering and reviewing all relevant documents.
3. Strategy Development: Formulating a tailored approach based on the specifics of the case.
4. Arbitration Initiation: Drafting necessary notices and agreements.
5. Representation: Acting on behalf of the client throughout the arbitration process.
6. Post-Arbitration Support: Assisting in the enforcement of awards and any further legal needs.

Cost and Timeframe

• Cost Structure: Fees vary based on the complexity and nature of the arbitration case. We provide transparent pricing to ensure clients understand their financial commitments.
• Timeframe: The duration of arbitration can vary; however, proceedings typically take a few months depending on the case complexity and the tribunal's schedule.

Why Choose Us?

• Experienced Arbitrators: Our team consists of qualified arbitrators and lawyers with extensive experience in domestic and international arbitration.
• Client-Centered Approach: We prioritize our clients’ needs, ensuring tailored solutions for every case.
• Proven Track Record: We have successfully represented clients in various arbitration matters, enhancing our reputation as reliable legal partners.

Conclusion

Arbitration is a vital tool for dispute resolution in Bangladesh, offering efficiency and expertise. Our comprehensive arbitration services ensure that clients navigate this process effectively, safeguarding their rights and interests. Let us help you achieve a favorable resolution to your disputes through our expert arbitration support!