SAARC ARBITRATION COUNCIL
SAARC Arbitration Council, Islamabad (SARCO) is one of the Specialized Bodies of South Asian Association for Regional Co-operation (SAARC), comprising the Member States, Islamic Republic of Afghanistan, and People’s Republic of Bangladesh, The Kingdom of Bhutan, Republic of India, Republic of Maldives, Federal Democratic Republic of Nepal, Islamic Republic of Pakistan and Democratic Socialist Republic of Sri Lanka.
It is an inter-governmental body mandated to provide a legal framework/forum within the region for fair and efficient settlement of commercial, industrial, trade, banking, investment, and such other disputes, as may be referred to it by the member states and their people.
To be the most sought Arbitration Forum in the region,by becoming a center of excellence for Alternate Dispute Resolution.
To provide fair, inexpensive, expeditious and high quality arbitral and conciliatory services to resolve trade.
Provide a legal framework within the region for fair and efficient settlement through conciliation and arbitration of commercial,
OBJECTIVES & FUNCTIONS
- Provide a legal framework within the region for fair and efficient settlement through conciliation and arbitration of commercial, investment, and such other disputes as may be referred to the Council by agreement;
- Promote the growth and effective functioning of national arbitration institutions within the region;
- Provide fair, inexpensive and expeditious arbitration in the region;
- Promote international conciliation and arbitration in the region;
- Provide facilities for conciliation and arbitration;
- Act as a coordinating agency in the SAARC dispute resolution system;
- Coordinate the activities of and assist existing institutions concerned with arbitration, particularly those in the region;
- Render assistance in the conduct of ad hoc arbitration proceedings;
- Assist in the enforcement of arbitral awards;
- Carry out such other activities as are conducive or incidental to its functions.