SAROD-Ports Launched by Shipping Ministry
SAROD-Ports, stands for Society for Affordable Redressal of Disputes – Ports, was launched by Union Minister of State for Shipping (I/C) Shri Mansukh Mandaviya on September 10, 2020 through a virtual ceremony in New Delhi.
In January 2018, the Union Cabinet chaired by Prime Minister Shri Narendra Modi had approved amendments in the Model Concession Agreement (MCA). The amendments in the MCA, proposed the constitution of SAROD-Ports.
- The port acts as the dispute resolution mechanism for public private partnership (PPP) Projects at the Major Ports of India.
- It will resolve the disputes in fair and just manner.
- It is also going to save huge amount of legal expenditure and time.
- It will also promote ease of doing business in the maritime sector through its fast, timely, cost effective and robust dispute resolution mechanism.
- It has been established under Societies Registration Act, 1860.
- Affordable and timely resolution of disputes.
- Enrichment of Dispute Resolution Mechanism by providing a panel of technical experts as arbitrators.
The Ports consists of members from Indian Ports Association (IPA) as well as the Indian Private Ports and Terminals Association (IPTTA).
SAROD-Ports will advise and assist the arbitration in settling the disputes in the maritime sector including the ports and shipping sector including the Major Port Trusts, Non-major Ports, private ports, terminals and harbours. It is also going to cover disputes between granting authorities and Licensee or Contractor arising during the course of execution of various contracts. SAROD-Ports is similar to SAROD-Roads in Highway sector constituted by National Highways Authority of India (NHAI).
Category: Economy & Banking Current Affairs