Int'l Cotton Asso working on new non-binding mediation process

The International Cotton Association (ICA), Liverpool, is working on to put in place a new non-binding mediation process to speed up arbitration of defaulting cases and ensure contract sanctity, a top official said today.
"There is a possibility to introduce a non-binding mediation, whereby buyers and sellers will be able to sit and discuss and resolve the issue," Mohit Shah, President, ICA, told reporters here.
"Some sort of announcement can be expected soon" Shah replied to a question about the time frame to put in place such a system.
Shah said an announcement on this new process would be made at the time of the conference of the association at Dubai during first week of October or ahead of it.

Shah, here to receive an achievement award during a Conference on Cotton, organised by Indian Cotton Federation, for being the first Indian to become ICA president, said, "ICA is trying to put in place a proper process and framework which is expected to open a new door".