TRAC Rules of Mediation
Despite the fact that dispute resolution through a trusted third party is deeply rooted in the Iranian culture, the use of the ADR in its modern notion is still developing within the business community in Iran and the broader region. TRAC has had a long vision of the need for a set of institutional rules for mediation and this need has been felt greater after signing the Singapore Convention by the Iranian Government in August 2019.
Now, TRAC is pleased to introduce its Rules of Mediation in force from 15 July 2021. TRAC Rules of Mediation are based on the most recent trends and tailored based on the needs of TRAC’s service users. The liberal approach of TRAC Rules of Mediation provides the maximum level of flexibility which is one of the main reasons for the choice of mediation. Moderate Fees is another great advantage that makes TRAC Rules of Mediation a suitable choice for all businesses in all disputes regardless of their scale.