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3.
Chamber of
Commerce & Industry, Kuwait ( KCCI) Regulations
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. Based on that and to keep
pace with the developments of the Kuwaiti Economy and
the evolution and growth of its global relations, the
Kuwait Chamber of Commerce and Industry decided to
develop its commercial reconciliation and arbitration
system. The Kuwait Chamber of Commerce and
Industryadvises 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 may 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. |