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.
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.
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.
Neutrality: In international disputes, the party who is the litigant before a domestic judge typically has an advantage in the dispute. This is untrue in arbitration, where arbitrators may be selected from States other than those of the Parties to the dispute.
Better-informed Judgments: Because domestic judicial systems tend to be overburdened, domestic court judgments do not always have time to review all of the documents and pleadings provided in sufficient detail. This is typically not the case with respect to arbitrators.
Enforceable Decisions: In international disputes with their seats of arbitration located in one of the 149-odd State members to the New York Convention, the decision rendered is enforceable just like a court judgment in ¾ of the world.
Hence, we can say that International Arbitration is an ideal way to resolve conflicts in a swift and efficient manner, with the oversight of expert arbitrators and through using good counsel.
International Arbitration Attorney Network
Christophe Dugué: Christophe Dugué is an international lawyer & arbitrator and is also a partner of the Dugue & Kirtley firm. He previously was a partner at Shearman & Sterling for 10 years. He specializes in international and domestic arbitration as both counsel and arbitrator. He practices in both English and French, under a variety of applicable laws.
William Kirtley: William Kirtley is an international lawyer & arbitrator. He is a Franco-American, Harvard-trained and experienced lawyer who focuses on international arbitration and all other different forms of arbitration.
Elisa Warbington: Ms. Elisa Warbington is a French-qualified and Cambridgetrained lawyer who works in English, French and Italian who has over 13 years of experience International Commercial Arbitration and International Arbitration Law.
Sylvana Sinha: Sylvana Sinha has over 10 years of experience, working at the highest level of International Arbitration. Her legal practice has included Investor-State and international commercial arbitrations and U.S. federal court proceedings relating to international disputes.
Thibault Beurnier: Thibault Beurnier is a member of the International Arbitration Commission of the ICC French National Committee, International Arbitration Institute and the International Law Association. He has also served as Counsel at the ICC and regularly serves as an expert for the French Ministry of Defense.
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Arbitration is one of the finest ways to resolve a conflict, when parties agree for a settlement without taking the matter into court. This...