Dubai Chamber of Commerce and Industry
With the maritime sector’s unprecedented growth in international trade and business, the Dubai Chamber of Commerce and Industry, in association with Al Tamimi & Company Legal Consultants, organised the Cost Effective Handling of Marine Claims workshop for its stakeholders, at the Chamber premises on Wednesday.
With its aim to deliver information on marine claims in the UAE and examine cost effective measures to resolve marine disputes as well as practical issues affecting marine cargo claims, the workshop was conducted by Mr. Omar N. Omar, Partner Transport, and Ms Janci Karri, Senior Associate, Dubai, Al Tamimi & Co.
It was attended by Dubai Chamber members, ship managers, lawyers and legal professionals, investors, contract administrators, claims executives, ship brokers, agents and corporate counsels.
Ms. Jehad Kazim, Director, Legal Services, Dubai Chamber, informed that the maritime sector is of crucial importance to modern economies as marine activities continue to expand with the growth of international trade and business. Today, a large chunk of global trading is carried out by international shipping industry which clearly shows the importance of the industry to a globalised economy, she said.
Ms. Kazim further stressed that the workshop facilitated representatives of a cross-section of Dubai companies to understand the practicalities, intricacies and managing of marine cargo claims in the UAE. It also allowed the participants to explore various dispute resolution options and venues including negotiation, mediation, arbitration, UAE courts and DIFC courts as well as the effective measures to prevent litigation.
She stated that the workshop was organised in line with Dubai Chamber’s strategic objective of creating a favourable business environment for which the Legal Services department regularly organises trainings and workshops for the business community which ultimately help boost their competitiveness while also enhancing the overall economic growth of Dubai.
Ms. Janci Karri of Al Tamimi & Co added that almost 95% of world trade is carried by sea and inevitably this gives rise to claims and its attendant costs. The workshop is aimed to address the needs of businesses for cost effective handling of marine claims.
The main aim of any claim is to gain a financial recovery and therefore it’s important to begin with the end in mind and assess the financial viability of any claim as well as the financial standing of the defaulting party in order to ensure a successful outcome, said Ms. Karri.