The President of the Ghana National Chamber of Commerce and Industry (GNCCI), Nana Dr. Appiagyei Dankawoso I has charged members of the business community to resort to Appropriate Dispute Resolution (ADR) to resolve their business disputes.
That, he noted, is more helpful than resorting to court litigation which wastes time and negatively affects business finances and relationships.
Addressing members of the Chamber at a Memorandum of Understanding (MoU) signing ceremony between the GNCCI and Gamey & Co ADR Centre in Accra today to pave way for the resolution of commercial disputes through ADR, Nana Dankawoso said direct and indirect costs of court litigation has to be avoided by businesses.
“Time is money,” he reminded business operators.
While ADR ensures speedy, cost effective, confidential and amicable resolution of commercial disputes, he said, it helps the disputing partners retain their relationship after the settlement.
He encouraged businesses to adopt ADR which was becoming a popular way of resolving business disputes among businesses across the globe.
According to him the opportunity to have business disputes resolved within the shortest possible time and with less cost, coupled with maintaining a cordial relationship after settlement among businesses are some of the factors the compelled the Chamber to struck a partnership with Gamey & Co ADR Centre, the leading ADR institution in Ghana, with the aim of offering assistance to GNCCI members and the entire business community in Ghana to resolve their business disputes in a more cost effective manner.
“In our attempt to achieve the above objective, the Chamber is partnering with the leading ADR Centre in Ghana, Gamey & Co. ADR Centre to kick-start the project since there is no need to reinvent the wheel,” he said.
Describing the ADR Centre as a key component of several Chambers of Commerce around the world, Nana Dankawoso mentioned the International Chamber of Commerce as a leader in using ADR to resolve disputes among international commercial entities, and noted that the signing of the MoU between the two parties demonstrates the readiness of Ghanaians businesses to adopt ADR.
“We want to support the private sector as a whole to take this advantage of the initiative, so that disputes would be resolved with less time, less cost and enable parties to keep the relationships,” he added.
Benjamin Nana Appiah/ adrdaily.com