Arbitration culture among traders

As a legal professional, I have spoken with some businessmen
about their commercial disputes in which they suffer from long litigation procedures.
I was surprised by their lack of knowledge about commercial arbitration.
which is considered their savior from all the suffering and frustration that they keep repeating and even reiterating when talking about commercial disputes.

Therefore.
Very briefly, commercial arbitration is a branch of the judiciary, which is like a private (paid) court whose judges you choose and whose commitment to you is to issue a judgment within a short period of time and whose judgment is a final judgment that cannot be challenged except in terms of form and not substance.
Arbitration is recognized by Islam and is an authentic Islamic system for adjudicating disputes.
Article 1448 of the Ottoman Code of Judicial Provisions stipulates that:
(Just as the judgment of the judges is obligatory for all the people within their jurisdiction.
Similarly, the judgment of arbitrators must be enforced in the aforementioned manner against those who have ruled them and the particular matter they have ruled on.
Therefore, neither party has the right to refrain from accepting the arbitrators’ ruling after the arbitrators’ ruling is in accordance with its legitimate principles.)

So.
In my opinion, businessmen (Saudi or foreign under the Saudi Arbitration Law issued in 1433) have no argument to complain about the lengthy litigation procedures in Saudi courts as long as the arbitration clause in their contracts will avoid them from entering its corridors and will make them and their opponents choose their own judges, who will mostly excel in taking care of what the judiciary fails to do, which is compensation for damage, loss of benefit and so on, which is still poorly conceptualized.

Lest the last statement be taken out of context.
I will illustrate it with a simple example.
A contracting company is building a commercial building, but it did not commit to finishing it according to the stipulated period and added two years on top of it through no fault of the owner of the building.
The building’s rental income if its shops and offices are rented out is two million riyals.
The contracting contract is seven million riyals.
Is it right to judge the contracting company to pay compensation for the loss of this benefit worth four million riyals, even though it means its great loss in this contracting contract, no matter how much profit it makes in it?
The answer is that the proper perception of the culture of compensation and loss of benefit will often be found among expert arbitrators, unlike others, who may not appreciate this and may formulate their defense with jurisprudential arguments based on probability and others.
I do not say this in a vacuum, but from a reality I have experienced and am still practicing law and arbitration.

Therefore.
Arbitration, gentlemen, also eliminates the argument that discourages foreign companies from establishing their huge investments in us, which is their fear of what I mentioned that they are afraid of the length of litigation and neglecting what is famous in their countries, such as compensation for damage, loss of benefit, the penalty for procrastination and delay, and so on.
Arbitration, gentlemen, has a wide scope for following the latest methods in terms of speed in litigation procedures and the ease of handling and responding to pleadings, such as the electronic court without the need for personal presence and other methods.
The arbitration decision is enforceable, except for what contradicts peremptory Sharia rulings, public order, or the correct procedures for litigation, representation, etc.
These precautions are often not unknown to qualified arbitrators.

Arbitration speeds up the resolution of disputes because arbitrators are usually available to adjudicate one dispute.
Arbitration preserves the privacy of the litigants and the confidentiality of information.
The file of the dispute between the parties remains under the exclusive knowledge of the arbitrators, while court hearings are public.
This would preserve the parties’ reputations and the secrecy of their transactions.
Arbitration enables the disputing parties to choose the arbitrators with full satisfaction, so that each of them feels completely at ease because they have chosen willingly who will arbitrate between them.
Arbitration avoids grudges and quarrels between the litigants – mostly because the decision comes closest to consensus because it is made by arbitrators who are trusted by all.

In general.
This article is only a passing reference to the importance of arbitration for commercial disputes.
and spreading its culture.
It is not an entry into its details, and there remain several issues in it that those who go to arbitration must pay attention to, whether when including it in the contract or after the dispute occurs.
Perhaps there will be other occasions to mention more about this.