Introduction

The Commercial Reconciliation and Arbitration System is considered as a favored procedure than raising a case at the Court due to the relatively quick decision taking and solution reached, less cost, and the simplicity of procedure, besides keeping the friendly relations between the parties concerned. Thus this system became an essential characteristic of the Free Economic Systems, and a condition of raising their capacities.

Based on that, and to keep pace with the developments of the Kuwaiti Economy, and the evolution and growth of its global relations, and in accordance with articles No. 6 and 11 of the law of its formation, The Kuwait Chamber of Commerce and Industry decided to develop its commercial reconciliation and arbitration system as shown in the articles (You may get a copy of the system from the Businessmen Centre).

The Chamber advises its members and companies as well as all others indulged in the economic life, who like to solve their commercial disputes by the reconciliation and arbitration system to include in their contracts one of the following conditions :

Reconciliation Condition :

Any dispute resulting from this contract should be referred to reconciliation in accordance with the conditions stipulated in the Reconciliation and Arbitration System of Kuwait Chamber of Commerce and Industry.

Arbitration Condition :

Any dispute whatsoever which may arise from this contract, its execution, or its cancellation is to be referred to arbitration in accordance with the conditions stipulated in the Reconciliation and Arbitration System of Kuwait Chamber of Commerce and Industry.

Reconciliation and Arbitration Condition :

Every dispute which may arise from this contract, its execution, or its cancellation is to be referred to Reconciliation, and in case it is not finalized, then the dispute should be referred to arbitration in accordance with the conditions stipulated in the Reconciliation and Arbitration System of Kuwait Chamber of Commerce and Industry.