Maritime Development Corporation

1015 WordsFeb 22, 20184 Pages
To: The Maritime Development Corporation (MDC) From: Longbelly Overseas General Investment Company Ltd (LOGIC) Date: May 16, 2014 Re: Dispute Settlement Mechanisms Implemented In relation to dispute settlement it becomes apparent that there is a need for the utilization of dispute settlement mechanisms. The advantages of these mechanisms seem to outweigh the disadvantages in the sense that these mechanisms are considerably cheaper than having to go through the process of litigation. Also there is the added bonus of the speed with which these settlements can be handled with. This is clearly a necessary factor for companies which require disputes to be handled speedily in relation to time constraints and budgetary considerations. The process of control offered to parties by these procedures is a significant factor to consider in relation to business owners and companies who are more accustomed to running their businesses than having their disputes being handled by the strict court process and discretion of a judge. The reasoning for the various stages that has been included in the Dispute Settlement Clause follows. 1. Negotiation Negotiation is a relatively informal process involving the discussion of some or all of the issues in a case with a view to resolving them on agreed terms. The process may be quite simple, or may involve substantial use of strategy and tactics. Negotiation
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