Qatar International Court and Dispute Resolution Centre (QICDRC) signed a guidance Memorandum with the Commercial Court of England and Wales concerning enforcement of financial provisions.
The signing ceremony was held at the Headquarter of the commercial court of England and Wales in London between CEO of QICDRC Faisal bin Rashid Al Sahouti and HE Judge in Charge of the Commercial Court in England and Wales Justice Foxton in the presence of HE Head of the Judiciary of England and Wales and the President of the Courts of England and Wales Lord Burnett of Maldon.
The guidance Memo intends to lay out guidance principles for enforcement of financial provisions which implies that such provisions require someone to pay a sum of money to someone else.
The cooperation under this guidance Memo is expected to provide shared guidance on judicial laws and procedures for each party to optimize general perception and guidance principles.
QICDRC was established under cabinet resolution No. 17 of 2012, in accordance with the provisions of law No. 7 of 2005 and its amendments within Qatar Financial Centre’s system to promote confidence of global financial enterprises which are licensed in it through obtaining the prompt justice in resolving its disputes through an international judiciary authority specialized in resolving investment and commercial disputes.
The court is an important element of the State of Qatar’s vision to attract investments and foreign capital to diversify its economy through provision of judicial services according to the best international standards that offer a wholesome work environment and effectively adjudicate in disputes in a short period of time.
Source: Qatar News Agency