Legal and Practical Aspects of Maritime Arbitration in Bangladesh

Abstract

Arbitration is a type of ADR with a long and illustrious history extending back to ancient Greece and Rome. It has a track record of producing successful results. International commercial disputes, particularly marine ones, are frequently resolved through arbitration. Examining Bangladesh's suitability as a venue for maritime conflict arbitration is the main objective of this thesis. A study of the 2001 Arbitration Act and a discussion of the current favourable environment for arbitration in this country have helped to achieve this goal. The benefits of arbitrating maritime conflicts rather than taking them to court are also thoroughly examined in this thesis. The conclusion of the thesis required a thorough review of international arbitration practice. The subjects of this session's discussion were the unilateral Model Law and the New York Convention, two of the key international treaties and rules that govern this kind of conflict resolution. The research demonstrates that arbitration is a quicker, more innovative, and more cost-effective approach to resolving maritime disputes in Bangladesh than judicial proceedings. The report also shows Bangladesh's capacity to serve as a venue for the arbitration of maritime conflicts.