THE Chairman of Seaport Terminal Operators Association of Nigeria (STOAN), Princess Vicky Haastrup, has commended the use of arbitration, mediation and other forms of Alternative Dispute Resolution (ADR) in settling commercial disputes in the maritime industry.
Speaking during a visit to Maritime Arbitrators Association of Nigeria (MAAN), in Lagos, Haastrup explained that resolving disputes through ADR will be much faster and less acrimonious than litigation.
Haastrup said: “I am happy to note that we have competent persons who can handle arbitration in Nigeria. I will encourage the use of arbitration as much as possible because it has significant advantages over litigation in court, such as party control of the process, typically lower cost and shorter time to resolution, flexibility and privacy.”
President of MAAN, Omogbai Omoeboh said: “It is a membership organisation open to industry practitioners; service providers; consumers of arbitration services and all stakeholders at large.”
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