Sri Lanka has taken a major step towards strengthening business confidence with the introduction of a modern commercial mediation framework aimed at providing businesses with a faster, confidential and internationally aligned mechanism to resolve disputes while preserving valuable commercial relationships.<\/p>\n\n\n\n
The milestone was marked by the inaugural Corporate Mediation Pledge Ceremony organised by the International Alternative Dispute Resolution Center, Sri Lanka (IADRC) at the Port City Colombo Sales Gallery, where 25 corporates pledged to consider mediation as an option for resolving disputes arising from their business engagements.<\/p>\n\n\n\n
The initiative follows the implementation of the Mediation (Civil and Commercial Disputes) Act, No. 13 of 2026, which came into effect on June 30. The new law formally recognises mediation as a mainstream dispute resolution method for civil and commercial disputes and establishes standards governing the mediation process, the responsibilities of mediators and service providers, and the recognition and enforcement of mediated settlement agreements.<\/p>\n\n\n\n
The framework offers businesses an alternative to lengthy legal proceedings by encouraging confidential, collaborative and practical solutions that help maintain long-term commercial partnerships while minimising disruptions to business operations.<\/p>\n\n\n\n
Industry stakeholders said the availability of an efficient dispute resolution mechanism would enhance Sri Lanka\u2019s attractiveness as an investment destination by providing greater certainty and confidence for both local and foreign businesses.<\/p>\n\n\n\n
The IADRC, established to promote alternative dispute resolution in Sri Lanka, has developed institutional mediation rules and maintains a panel of trained and accredited mediators. It works alongside institutions including CC Sri Lanka, the National Arbitration Center and Udecide in advancing mediation services across the country.<\/p>\n\n\n\n
The Corporate Mediation Pledge reflects growing recognition within the private sector that effective dispute management is an essential component of responsible corporate governance and sustainable business growth. The ceremony was supported by The Asia Foundation, while Port City Colombo served as the venue partner<\/p>\n\n\n\n
Source: Daily News<\/p>\n","protected":false},"excerpt":{"rendered":"
Sri Lanka has taken a major step towards strengthening business confidence with the introduction of a modern commercial mediation framework aimed at providing businesses with a faster, confidential and internationally aligned mechanism to resolve disputes while preserving valuable commercial relationships. […]<\/p>\n","protected":false},"author":2,"featured_media":17352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/posts\/17351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17351"}],"version-history":[{"count":1,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/posts\/17351\/revisions"}],"predecessor-version":[{"id":17353,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/posts\/17351\/revisions\/17353"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/media\/17352"}],"wp:attachment":[{"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}