Peace Deal Valued at 250 Million
The "Tirad" platform, operated by the Ministry of Justice, resolved a financial dispute between two companies exceeding 250 million riyals, which could have escalated into a lengthy legal battle. This was achieved through reconciliation sessions managed by qualified mediators, leading to an amicable settlement that preserved the rights of both parties and ensured the continuity of their contractual relationship. The settlement agreement was adopted as an enforceable document to guarantee the implementation of the commitments. This case demonstrates the effectiveness of preventive justice in reducing disputes, lowering costs and time, and supporting the business and investment environment in the Kingdom. The "Tirad" platform includes nine reconciliation tracks, including financial, commercial, and intellectual property.
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