Internal Arbitration System or IAS is an innovative dispute resolution mechanism formulated and promoted by Musthafa & Almana that focuses on isolating and containing a dispute within the organization’s doors. The idea behind IAS is to offer organizations an opportunity to efficiently and effectively deal with both, intra-party and inter-party, disputes in the most cost efficient and expedient manner.
This innovative alternative dispute resolution process is already vetted by international and national arbitration bodies and is a single step approach. Once an organization signs up to IAS and a dispute arises, a panel including an arbitrator and an industry expert will adjudicate on the matter.
In UAE, IAS has been approved and endorsed by Sharjah International Commercial Arbitration Center (TAHKEEM) as a dispute resolution platform.
Salient Features of IAS:
- Settling the dispute within closed doors
- Better for startups and SMEs
- Arbitrators shall be chosen from elite panel of experts
- Flexibility to decide the dispute resolution procedure
- Decisions endorsed by appropriate institutions for legal sanctity
- Freedom to chose the seat of arbitration
- Arbitrators’ fees will be decided directly between the parties and the arbitrators
- Simplified implementation process
- Designated institutional provider to administer the arbitration at a relatively lower cost
- Designated institutional provider to formulate rules and regulations
- Execution of the decisions through designated institutional provider