Business updates

The MCCI Arbitration and Mediation Center (MARC) has launched  a Special Mediation Package for SMEs. The aim is to make alternative dispute resolution services more accessible to SMEs, by providing them  at favorable costs with a healthy, transparent and confidential framework for sorting out their disputes privately through the assistance of a MARC mediator, and within the framework of the MARC Mediation Rules.

Basically, under the MARC Mediation Package for SMEs, the MARC Mediation Rules will apply but with a reduced one-off fee of Rs 5000 per party (regardless of the sum in dispute) instead of the Mediation Scale of Costs currently applicable under the MARC Mediation Rules. The maximum number of mediation hours shall be 10. The Applicant party must be an SME registered with the SMEDA. The Applicant party has the option of paying the share of the other party in case the latter is willing to participate in the mediation but not willing to pay his share of the costs. Upon receipt of the request for mediation, MARC will appoint a mediator from a Panel of Mediators specifically set up for 'SME Mediation Framework'.

SMEs and Start ups are structures which, while bursting with potential and prospects, are often still shaky on their foundations, and can, if faced with conflicts at early stages, fizzle out in no time, never having the opportunity of thriving and reaching to the summit of their full capacity.

Conflicts are part of life and business life is no exception. Amidst the varieties of minute transactions which a business must handle day after day, year after year, and the network of relationships it weaves around itself to remain sustainable, clashes and misunderstandings inevitably arise. Handled inefficiently, the effects can be catastrophic and can lead to loss of productivity, opportunities, jobs. But dealt with intelligently, with a mature approach, they can be tremendous opportunities for further growth and expansion.

This is the reason why we, at the MCCI Arbitration and Mediation Center, believe in equipping SMEs, at the early stages of their operations, with the tools and framework which can assist them in resolving conflicts in ways which are cost-effective, confidential, flexible, and above all, creative.

For more information, please contact the Legal and Business Facilitation Division at the MCCI on 208 3301.