A Guide To Arbitration

Businesses faced with a cross-border dispute must make a decision as to which method they will choose to resolve the situation.  Going straight to court is no longer the first choice for the majority of organisations.  According to the 2021International Arbitration Survey  

90 per cent of the commercial respondents to the survey stated that they elected to use arbitration as their first option to resolve a dispute as opposed to litigation.  Whilst there are both pros and cons to litigation and arbitration, the latter offers considerable advantages and flexibility, such as the ability to choose the arbitrator, the language in which the arbitration is conducted and the location where the proceedings should be conducted.  Also, the privacy arbitration provides, the discussions and decisions in an arbitration are confidential, as opposed to those in a hearing in open court and finally, the ease of enforcement.