Govt decides to add arbitration clause in contracts

Law Minister Anisul Huq yesterday said the government has taken a decision in principle to include appropriate clauses in all public contracts for arbitration.

“I hope the Legislative and Parliamentary Affairs Division of my ministry will initiate a proposal soon in this regard,” he said.

The minister was addressing a seminar organised by Bangladesh International Arbitration Centre (BIAC) marking its sixth anniversary in the capital's Sonargaon Hotel.

“Bangladesh International Arbitration Centre, as the only alternative dispute resolution institution in the country, has already achieved remarkable progress in facilitating arbitration in respect of commercial and business disputes. Out-of-court settlements of commercial disputes, through mediation and arbitration, facilitate quick and effective resolution of disputes,” Anisul added.

He said the present government appreciates the growing need and significance of the alternative dispute resolution (ADR).

“Apart from the Arbitration Act, 2001, some other laws have incorporated provisions of the ADR in the last few years.... The ADR has also been introduced for resolving customs, VAT, income tax and labour law cases,” the minister told the programme.

Chaired by BIAC board Chairman Mahbubur Rahman, the seminar was addressed by BIAC Chief Executive Officer Muhammad A (Rumee) Ali, among others.

Chou Sean Yu, chairman of the Chartered Institute of Arbitrators Singapore wing, delivered the keynote address on the occasion.

Former chief justice M Tofazzal Islam and Bangladesh Bank Governor Fazle Kabir were present, among others.