'SAROD-Ports'
2020 SEP 11
Preliminary >
Industry and Infrastructure > Miscellaneous > Applications
Why in news?
- Union Minister of State for Shipping launched 'SAROD-Ports' (Society for Affordable Redressal of Disputes - Ports) through a virtual ceremony .
About SAROD:
- SAROD-Port has been put together by the Concessioner and the Port Association.
- It will designate an export team that will address and resolve all disputes between the port and the concessionaire working with the port.
- It will also cover disputes between
- Granting authority and Licensee/Concessionaire/Contractor
- Licensee/Concessionaire and their contractors arising out of and during the course of execution of various contracts.
- Recent amendments in the Model Concession Agreement (MCA) envisaged the constitution of SAROD-PORTS as a dispute resolution mechanism for PPP Projects in major ports
What is a concession agreement?
- A concession agreement is a contract that gives a company the right to operate a specific business within a government's jurisdiction or on another firm's property, subject to particular terms.
- Concessionaire is a person, group, or company to whom a concession has been granted.
- A port concession is a contract in which a government transfers operating rights of the port to a private enterprise.
PRELIMS QUESTION
”SAROD” a portal recently launched is likely to improve ease of doing business in:
(a)IT industry
(b)Real Estate sector
(c)Ports sector
(d)Textile manufacturing sector
Answer to prelims question