FRX Consulting Sdn. Bhd.
Do contact us for any inquiries.
Ms. Haslinda Rahmat
0197141983.
email : frxconsulting@yahoo.com
TAKE IT or LEAVE IT
It’s true that it is your rights to get what is yours. But, don’t you think, by make courts action it will make the dispute worse, Especially when you put it into courts action, where you have to deals with many things such as expensive lawyer fees and time wasted.
And, did you confident by having a good lawyer, you surely win the case ?
If you win, do you really think your actions will ensure you to get back all your money spent ? your delayed payment ? restore back the agreement ? improved your relations ?
Maybe you will get what you wanted from actions you did, or maybe you don’t get anything. Right ?
So here, we give you the solution which is more cheap, easy and fast process than litigation that will ensure both parties win the case. (win-win solution)
How ? Through Arbitration, Alternative Dispute Solution (ADR).
*Kindly contact our consultant for more information*
All the decision is in your hands, either you take it or leave it.
TAKE IT, Which mean, you agree to compromise with the other parties and settled your dispute in harmony ways or;
LEAVE IT, which mean, you disagree with the solution given and keep argue with each other in the courts which is you never know when will your dispute settled.
We suggest you to “take it” with wise action, or “leave it” with unsettled dispute.
ITS YOUR CHOICE.
About Arbitration
Usually when two parties enter into an agreement and sign a contract, the contracts are performed and closed to the entire satisfaction of the parties. Sometime disputes concerning the contract will arise between the parties. The most important dispute resolution method is litigation through courts of country. The other equally effective method is arbitration.
ARBITRATION is ideally a simple, informal and less expensive dispute resolution method. Arbitration, unlike, litigation, is a private process separate from national courts. The persons judging an arbitration process are called arbitrators and their number is decided by the parties. The arbitrators are also selected and appointed by the parties.
ARBITRATION VS LITIGATION
Features :
Arbitration :
Process : Process Private process. Only persons involved in dispute can attend
Time : Can only initiated if there is Arbitration Agreement
Flexibility : Informal and flexible
Selection of adjudicators : Arbitrators are appointed by the parties dispute
Appeal : None appealable. The verdict awarded is usually binding and final.
Delay : Mush faster process
Arbitration Litigation (Civil Court)
Process : Public process. Anyone can watch the proceeding
Time : Can be initiated by anyone at any time
Flexibility : Formal, inflexible and slow procedure in accordance with the law of the country.
Selection of adjudicators : Parties have no say in the selection of a judge. It is determined by the government of
the country.
Appeal : Verdict is appealable based on the filing first, second and some cases even third appeals, depending on the code of civil procedure.
Delay : Time consuming.
NEWSROOM
Akta Timbang Tara Baru Berkuasa 22 Mac, 2006
KUALA LUMPUR, 29 Mac (Bernama) — Akta Timbang Tara 2005 yang diwartakan pada 31 Dis tahun lepas berkuatkuasa bermula 22 Mac tahun ini.
Timbalan Menteri Perdagangan Antarabangsa dan Industri Datuk Ahmad Husni Hanadzlah, berkata Akta baru tersebut disemak semula bagi memenuhi keperluan untuk satu peraturan yang seragam dan selaras sebagai alternatif kepada dakwaan mahkamah bagi menyelesaikan pertikaian antarabangsa.
Selain itu beliau berkata, Akta baru tersebut yang mengguna pakai “Model Law” akan menggantikan Akta Timbang Tara 1952 dengan peruntukan yang bertambah baik berkaitan prosedur timbang tara di negara ini.
Beliau berkata demikian di seminar bertajuk “Timbang Tara: Menyelesaikan Pertikaian Perniagaan Antarabangsa Anda” anjuran Dewan Perniagaan Antarabangsa Bahagian Malaysia, di sini, hari Rabu.
Ahmad Husni berkata kerajaan sedar dengan usaha-usaha agresif yang dilaksanakan untuk meningkatkan perdagangan dan pelaburan langsung asing, pasti akan terdapat peningkatan dalam pertikaian urusniaga perniagaan, perdagangan dan pelaburan.
“Memandangkan perkara ini, isu-isu seperti pertikaian dan timbang tara pastinya akan meningkat dari segi bilangan, justeru usaha-usaha perlu dibuat untuk mempercepatkan penyelesaian pertikaian terutamanya yang membabitkan rentas sempadan,” katanya.
Dalam keadaan sedemikian, timbang tara dilihat sebagai mekanisme lebih efektif bagi menyelesaikan pertikaian, katanya.
Ahmad Husni berkata kerajaan menyokong timbang tara antarabangsa seperti dibuktikan dengan penubuhan Pusat Serantau bagi Timbang Tara Kuala Lumpur (KLRCA), yang menimbang tara kes-kes domestik dan antarabangsa.
“Apa yang lebih penting badan kehakiman Malaysia juga menyokong penuh timbang tara dengan keengganannya campur tangan dalam prosedur timbang tara yang dijalankan oleh KLRCA,” katanya.
Ahmad Husni berkata dengan segala kemudahan yang tersedia kerajaan menunjukkan komitmen dan sokongan berterusannya bagi memastikan peniaga dan pelabur Malaysia menyedari sumber yang disediakan kepada mereka jika timbul sebarang pertikaian mahupun dakwaan.
“Justeru, penting bagi komuniti perniagaan Malaysia mengambil tahu kemudahan timbang tara yang disediakan di dalam negara,” katanya.
–BERNAMA
CASE STUDY
Client : Local construction company
Respondent : Local bank
Sector : Financial service
Type of dispute : Debt arrears and restructuring
Case background
Client had a loan of RM700,000/= granted by a local bank to complete a project. Due to certain unforeseen circumstances, the client was unable to pay back the bank. At a point, the loan was ballooned to RM1 million inclusive of penalties, interest and other costs. We were contacted by the client to help him find the solution. That time, the client was already received a summon by High Court which he would risk himself and his business to bankruptcy.
Solution
We contacted the local bank and engaged in a series of negotiation. We presented financial plan and arrangements to the bank while requesting the bank to hold the legal proceeding against the client. The bank agreed to hold the proceeding. It’s a motivation for us and everyone involved. After taking into consideration our plan and strategy, the bank agreed to accept our solution plan and withdraw the case indefinitely from legal proceeding.
Result.
The bank agreed to cut 30% from the total debt of RM1 million leaving RM700,000 only to be paid. That RM700,000 was repayable in a form of staggered payment.
Both parties enjoyed the solution below:
For the Client:
• The business could survive
• Possibility to be eliminated from “blacklist” status
• Avoid further legal actions that could lead to bankruptcy
• The client only need to back the principal in staggered payment
• Avoid stress and humility
• Cash flow was restored dramatically
For the Bank:
• Earn back the payment back steadily
• Cut legal costs immediately
• Reduce the NPL level
• Save time spent in legal proceedings that may not be worthwhile at all.
**We took 2 months to resolve the above case.
FRX CONSULTING
OUR SERVICE
As an ADR Consultant, we assist clients to navigate through all the way the arbitration-ADR process with one single objective: to resolve their disputes, amicably and timely with value for money.
We will assist our clients to prepare a statement that carry a reasonable “merit” which will open wider possibilities to achieve the objective. In this case, we will represent our client in pre-arbitration proceeding by consulting the arbitral tribunal on the technical aspects and of the proceedings entirely.
OUR STRENGTH
We are equipped with experience staff coupled with in house legal experts that ensure we provide the best service we can for the desired clients.
ISLAM AND ADR
ADR is not new in Islamic thought. Islam recognizes the distress a trial can cause and therefore encourages ADR whenever possible. One case clearly illustrates ADR is effective and promoting peaceful settlement is in the reconstruction of the Holy Kaaba in Mecca, where a serious quarrel arose over the setting of the Hajr-e-Aswad- the black stone in one corner of the Kaaba. Each one of the four leaders of the Quraish tribe disputing over the issue was eager to have his way and ensure he was not outdone by the others. There was an impasse. They could not agree. One of the leaders suggested that the first person to arrive the next morning could be the one to place the Hajr-e-Aswad. As it transpired, the Prophet Muhammad S.A.W was the first person to arrive. Not wishing to have the privilege himself, he asked the leaders of the four tribes to spread a sheet of cloth and place the Hajr-e-Aswad on it, and then told them to hold it at its four ends and together they raised it. Thus a serious conflict was avoided thanks to the Prophet’s prudent action.
In addition, The Holy Quran states:
Say to them, “I have believed in whatever Book Allah has sent down, and I have been commanded to do justice between you. Allah is our Lord as well as your Lord. For us are our deeds and for you your deeds. There is no dispute between us. Allah shall gather us all together one day and to Him we shall all return.” (Surah Al Shura:15)
ARBITRATION AND ALTERNATIVE DISPUTE RESOLUTION SERVICE (ADR)
Overview
Arbitration and ADR are the forms of settling disputes out of court. It involves face to face interaction between all disputed parties and encourage direct communications and negotiations between them. it is not a new practice in legal field but it has evolved as one of the most important element in worldwide legal spectrum today.
Today, most major corporations globally opt for ADR rather than normal in court litigation proceeding to find solutions for their disputes.
Most disputes come from commercial and banking contracts or transactions, and with current economic trend today, we anticipate more disputes to come.
Why Arbitration and ADR?
It allows you to settle your case out of court. That means, you’ll enjoy number of benefits compared to litigation.
It saves a lot of time since arbitration and ADR practices flexibility. In litigation, it’s a lengthy, tiring and sometimes can be daunting process.
Litigation can be intimidating and risky for the litigants. In addition, because court proceedings are adversarial, a battle between lawyers, the truth is not always the end result
Think about this, a prominent New York defense attorney and Criminal Court Judge said in all honesty, “I have nothing to do with justice…Justice is not even part of the equation.” Litigation is not always the right answer.
Litigation is expensive. The lengthier the case, the more money you have to put in, and it doesn’t guarantee you will win anyway. In addition, litigation may torn apart your relationship with the one you are in battle with.
ADR brings to you an option in which you could settle your case in a more friendly and amicable solutions. You can save more money, and reputation while you will have a chance to a win-win solution. Even you lose in the case or dispute, you don’t lose everything.
School of International Arbitration, Queen Mary, University of London, United Kingdom has these points to highlights:
• A significant majority of corporation prefer international arbitration to resolve their cross border disputes. 73%of the participating corporations prefer to use international arbitration;
• The advantages of international arbitration clearly outweigh the
disadvantages. The major advantages of arbitration, as evidenced in the study are procedural flexibility of
procedure, enforceability of awards, privacy in the arbitral process and the opportunity accorded to the parties to select their own arbitrators. Although international arbitration can sometimes be at least as expensive as transnational litigation, it represents better value for money;
• Having a clear dispute resolution policy provides corporations with a strategic advantage in the negotiation of dispute resolution clauses for cross border contracts;
• Over three quarters of corporations favour institutional arbitration. There is widespread support for regional
arbitration institutions;
• With increasing awareness of international arbitration as a dispute resolution process, there is growing demand from corporations for more education on the tools and tactics of international arbitration;
• The outlook for international arbitration is extremely positive, as 95% of corporations expect to continue using
international arbitration.
The above should be clear enough that ADR is getting a significant attention in global business.
About FRX Consulting
Providing a world better class advisory service to help our clients achieve rightful justice and fairness. our arbitration and Alternative Dispute Resolution (ADR) services are the pinnacle for that purpose. in commercial world today, millions of dollars of disputes such as breach of contract take place everyday nationwide, and even huge globally. settlement of dispute though arbitration is a lot more cost-effective than usual sivil court. through navigating the desired solutions, we offer impartial approach coupled with well blended professionals from legal and commercial fields, ensuring our clients’ utmost interest remain as our priority, always.
Prophet Muhammad S.A.W said “The just and fair will be seated on chairs of light before God. such people are those who decide with justice and deal justly in matters relating to their families nd other affairs entrusted to them”- Rayadus Salihin, Hadeeth 650.
FRX Consulting 