Georgia to develop mediation to save time and money of businesses
31 March, 2011
Georgia to develop mediation to save time and money of businesses

Georgia is to develop mediation as a form of alternative dispute resolution to help Georgian business save time, money and nerves.
International Finance Corporation (IFC), a member of the World Bank Group, is joining the Georgian government, judiciary, academia, and private sector to promote mediation as a form of alternative dispute resolution that is underdeveloped in Georgia at the moment.
To this end IFC in partnership with Tbilisi State University and the EU-funded Project Capacity Building in Support

of Rule of Law in Georgia, hosted a conference on mediation on March 28, 2011. The conference brought together senior representatives of government institutions, judiciary, academia, business associations, legal practitioners, and arbitration firms to discuss best practices on mediation application in criminal and commercial cases and prospects of their introduction in Georgia.
Mediation enables would-be litigants, aided by trained mediators, to resolve disputes amicably, thereby helping businesses save time and legal costs, and improving the business environment. “We very much value the initiatives of IFC, the EU and, especially the Ministry of Justice of Georgia, aimed at introducing mediation in Georgia,” said Professor Irakli Burduli, Dean of the Faculty of Law, Tbilisi State University. “The Faculty of Law intends to increase the role of mediation as one of the effective ways to resolve legal disputes, including commercial ones. I hope that our joint efforts will result in introducing this mechanism in Georgia in a streamlined way.”
“Development of mediation is very important for the business environment as it allows companies to save time and money by solving their disputes by themselves,” Thomas Lubeck, IFC Regional Head for the Caucasus, said. “This conference will serve as the first important step in building a broad coalition of stakeholders who will work together to introduce mediation in Georgia.”
IFC has global and regional experience in promoting mediation. IFC is already helping countries in Western Balkans establish alternative dispute resolutions systems. In Georgia, IFC has contributed to promotion of mediation by identifying potential interest among Georgian stakeholders, organizing study tour for Georgian practitioners to Montenegro, where mediation has been mainstreamed with IFC’s help, enabling the companies save time and costs.
According to sector pundits, resolution of commercial disputes through mediation is much more flexible mechanism unlike court disputes and helps businessmen to settle disputes in informal and confidential environment in three days for example instead of formal litigation process protracted for months. Commensurately costs are significantly low and moral side saved as far as unlike courts business partners can keep partnership after the conflict is removed through mediation. Both sides win thanks to mediation settlement of disputes while in case of court litigation only one side wins: the point is if the dispute is settled through court litigant sides part as enemies as a rule and never keep partnership experts say.
IFC’s cumulative investments in Georgia since 1995 total nearly USD 500 million in 36 projects across a variety of sectors. Through its Advisory Services, IFC is working towards reform of Georgia’s tax system to benefit small businesses and is helping raise food safety standards. Georgia has been a member of IFC since 1995.

Print
Other Stories
The most wanted fruits from Georgia
The fruit exportation has decreased in Georgia. According to Geostat (National Statistics Office of Georgia), this year, up until May Georgia exported 25 939 300 USD worth of fruit – 6 771 300 USD less than in 2018.
Investment Plan for Europe – Additional EUR 800 million for SMEs as EIF and ProCredit double support for innovative companies
The European Investment Fund (EIF) and ProCredit Group are providing an additional EUR 800 million to innovative small and medium-sized companies (SMEs),
Everything of comfortable life in one space – Second part of construction of one of the largest apartment complexes finished in Tbilisi
Apartment in ecologically clean environment, thousands of square meters of green yard, swimming pools, places for various sports activities, treks for walking and running, commercial spaces – all these available in one space is not a fantasy.
Batumi awarded Europe's Leading Emerging Tourism Destination 2019
World Travel Awards Europe Gala Ceremony 2019 took place on the 8th of June in Madeira, Portugal.
Coca Cola to open new factory in Georgia, will hire female drivers
Coca Cola is opening new factory in Georgia in December.
World's best party supply company now on the Georgian market
The largest party supply store in Georgia - MyDay is launching as the official distributor of AMSCAN from 2019.
Live as a marketing tool and an unprecedented live stream launched by Livetag
Sharing information has become smoother and more versatile in today’s technological world. Recently, live streaming, an online streaming media has become especially popular.
Theme and program of Caspian Energy Forum Tbilisi – 2019 changed
“The 8th International Caspian Energy Forum Tbilisi – 2019, scheduled for June 21, will focus on the development of the Azerbaijan-Georgia relations in the field of economy and energy”,
Misunderstanding over Poti deep sea ports
There was misunderstanding around deep sea ports in Georgia – in Poti.
High demand for dollars or the investment decline – Why Georgian Lari depreciates
$1 equals GEL 2,7470 in the official rate set by the National Bank of Georgia (NBG).
PSP Group confirms negotiations regarding purchasing of GEO Hospitals
PSP Group confirms negotiations regarding purchasing of GEO Hospitals.
New life to be given to Dashbashi Canyon
Georgia’s Agency of Protected Areas is planning to give new life to Dashbashi Canyon in Tsalka (southeastern Georgia).
Who is constructing “Khadori 3” Hydropower Plant in Pankisi Gorge?
Clashes broke out in Pankisi Gorge, Georgia’s northeastern region between special forces and residents
Business Positive – Successful radio program from Radio Positive
Starting point of radio program Business Positive is to meet interesting people, communicate with them and deliver information that is interesting for the audience.
A factory of electric vehicles to be built in Kutaisi
Prime Minister Mamuka Bakhtadze stated that a factory of electric vehicles will be built in Kutaisi at the presentation of the Aigroup business group.
Qvevri-shaped hotel complex to be built in Telavi
A Qvevri-shaped hotel complex is scheduled to be built in the village of Shalauri in Telavi, Kakheti (east part of Georgia).
Georgian designers presented at Fashion World Tokyo 2019
The products of 11 Georgian designers are showcased at Fashion World Tokyo 2019,
Silknet raises $200 million in Eurobond issue
27 March 2019 - JSC Silknet (“Silknet”), one of Georgia’s leading telecommunications operators, has successfully priced a debut $200 million 5-year 11% senior unsecured bonds issue (the “Notes”).
Pistachio trees will be planted in Georgia
Dozens of hectares of Pistachio are planned to be planted in Georgia this year.
Toyota Safety Sense and Hybrid Technology
Toyota Caucasus, has presented two new models the 5th generation RAV4 and the 12th generation Corolla at Rustavi International Motorpark, several days ago.
Bidzina Ivanishvili “became number one oppressor of businesses in Georgia” - ICC Georgia chairman Fady Asly
Mr. Ivanishvili promised the business community to protect them from harassment and pressure, unfortunately his words died with the sunset of that day
The best brands of Belarus will be exhibited on a large-scale exposition in Tbilisi
"The Belarusians like to come to Georgia to relax near the sea in Batumi as well as to stay in sunny Kakhetia."
Don’t treat business like a hooker! - Georgian businessman Vasil Soprpmadze addresses politicians
Businessman Vasil Sopromadze, founder of the company "Fresco", addresses politicians
RAV4 No Compromise and Corolla Set to Impress – Two New Cars Presented by Toyota
Toyota Caucasus, the company constantly aspiring to greatness, has presented two new models the 5th generation RAV4 and the 12th generation Corolla.
Mamuka Khazaradze quits TBC bank, does not sell the TBC Bank share
I made a decision to leave TBC bank where I spent 27 years of my life
PHOTO OF THE DAY
GEL Exchange Rate
Convertor
18.07.2019
19.07.2019
USD
1
USD
2.8687
2.8714
EUR
1
EUR
3.2178
3.2191
GBP
1
GBP
3.5580
3.5832
RUB
100
RUB
4.5670
4.5608
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange
USD
1
USD
2.8714
EUR
1
EUR
3.2191
GBP
1
GBP
3.5832
RUB
100
RUB
4.5608
July 2019
Mon Tue Wed Thu Fri Sat Sun
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31