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international-arbitration-attorney/

http://www.international-arbitration-attorney.com/. What is International Arbitration?.

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international-arbitration-attorney/

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  1. http://www.international-arbitration-attorney.com/

  2. What is International Arbitration? Arbitration is one of the most effective ways to resolve a conflict, offering a final and binding solution when parties are unable to agree upon settlement and without taking a matter into court. This technique involves one or more arbitrators reviewing the dispute and making a final and binding decision. When arbitration awards are rendered in international disputes, they are typically enforceable throughout the 149 States that are Parties to the New York Convention.

  3. Benefits of International Arbitration: There are many benefits with international arbitration as compared to domestic court proceedings. Some of them are mentioned below: • Speed: For individuals or organizations looking for faster outcomes to dispute resolution, arbitration is a great choice, especially if the parties agree to expedited (or “fast-track”) arbitration proceedings. The entire process can be much quicker than traditional court procedures since there is no appeal. • Inexpensive: Cases in traditional court last for years, especially when there are appeals, which translates into increasing costs over time. Because proceedings take less time, the cost of the entire process can be significantly less than in court litigations.

  4. Simplified Proceedings: In arbitration, the procedural rules tend to be far simpler than before domestic courts, and they are highly flexible and may be customized by the Parties. Therefore, one can enjoy the relaxation of simple proceedings as compare to traditional court procedures, which can be very time-consuming and confusing when they are motion-based. • Hire an Expert to Act as Judge: In arbitration, parties have the option of choosing an arbitrator who is an expert in a particular industry or type of law, as opposed to more generalized domestic judges, who oversee many different types of disputes. Skilled arbitrators have special qualifications to understand the dispute from an industry perspective, for instance arbitrators familiar with the construction industry will understand the meaning of a critical path and how it is determined. • Privacy: No public hearings is another potentially significant advantage. It simply means that you can keep the whole matter private and the hearings will take place in private rooms. Decisions are not typically published, except for in international investment arbitrations, which are arbitrations involving States.

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