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News: Union Minister of State for Shipping(I/C) has launched ‘SAROD-Ports’ (Society for Affordable Redressal of Disputes – Ports).
Facts:
- SAROD-Ports: It aims to provide an Affordable Dispute Redressal Mechanism for all kinds of disputes of the maritime sector with the panel of technical experts as arbitrators.
- Registered Under: It was established under Societies Registration Act, 1860.
- Composition: It consists of members from Indian Ports Association (IPA) and Indian Private Ports and Terminals Association(IPTTA).
- Coverage: It will advise and assist in settlement of disputes through arbitrations in the maritime sector, including ports and shipping sector in Major Port Trusts, Non-major Ports, including private ports, jetties, terminals and harbours.
- It will also cover disputes between granting authority and Licensee/Concessionaire /Contractor and also disputes between Licensee/Concessionaire and their contractors arising out of and during the course of execution of various contracts.
