International Arbitration plays an important role to settle various commercial disputes between big enterprises and major international corporations in a quick manner. In this present age of globalization, every company is required to collaborate with overseas partners to expand their market reach and profits. Due to this there may be situations that require resolution of conflicts for the proper functioning and growth of a business.
Related : Drafting the clauses for International Arbitration
International Arbitration is becoming one of the preferred means of dispute settlement as it is confidential and neutral in nature. It allows for an easy way to settle disputes, where all the hearings and proceedings of the case are held in a private room where only the involved parties and a panel of international arbitrators is present. The decision produced by an international arbitrator is final, enforceable and irreversible. This epitomizes the idea of the mutual benefits of both the parties and it will likewise spare them from investing time and cash in lengthy and costly court proceedings and appeals. In addition, by entering into an arbitration agreement, the disputants will be at freedom to settle contentions between them flexibly, which is not the case with the traditional courts, where legal procedure can dominate the merits of a case.
Arbitration may incorporate inquiries emerging out of valuations, examinations or different controversies which may be incidental, collateral, precedent or resulting from any issue between the parties. It gives the disputants a right to choose an arbitrator themselves and to select various methods to administer the processes. So long as the fundamental prerequisite for intervention is available, the law permits the parties to lead with discretion in any way when the procedure selected is not opposed to law or public policy.
Related : Drafting the clauses for International Arbitration
International Arbitration is becoming one of the preferred means of dispute settlement as it is confidential and neutral in nature. It allows for an easy way to settle disputes, where all the hearings and proceedings of the case are held in a private room where only the involved parties and a panel of international arbitrators is present. The decision produced by an international arbitrator is final, enforceable and irreversible. This epitomizes the idea of the mutual benefits of both the parties and it will likewise spare them from investing time and cash in lengthy and costly court proceedings and appeals. In addition, by entering into an arbitration agreement, the disputants will be at freedom to settle contentions between them flexibly, which is not the case with the traditional courts, where legal procedure can dominate the merits of a case.
Arbitration may incorporate inquiries emerging out of valuations, examinations or different controversies which may be incidental, collateral, precedent or resulting from any issue between the parties. It gives the disputants a right to choose an arbitrator themselves and to select various methods to administer the processes. So long as the fundamental prerequisite for intervention is available, the law permits the parties to lead with discretion in any way when the procedure selected is not opposed to law or public policy.
