Chamber of Commerce sets up ADR center to settle business disputes

The Sekondi-Takoradi Chamber of Commerce and Industry (STCCI), has established an Alternative Dispute Resolution (ADR) Center to assist its members to amicably settle business disputes.

He said ADR provides a simple, fast, cost effective and flexible procedure for members of the chamber to negotiate a settlement of their commercial disputes.

Mr. Ato Van-Ess, Chairman of the STCCI, announced these at a breakfast meeting for members of the Chamber and stakeholders, including representatives of financial institution at Takoradi.

He said ADR mechanisms were completely voluntary and must be agreed to by both parties involved in a dispute, except in a few cases when it was ordered by a court or any other body.

Mr. Van-Ess said all over the world, settling business disputes through ADR had become one of the leading functions of Chambers of Commerce and Industry.

He said benefits of ADR to corporate businesses; include avoidance of loss of money due to judicial corruption and resolution of disputes by companies without becoming enemies.

Mr Van-Ess said ADR also enabled business operators to use their time and financial resources for profitable ventures and investments, adding “Litigation has no business in today’s business”.

Source: GNA