An international commercial arbitration is a process, that is considered one of the effective options for alternative dispute resolution (ADR). Its main feature is that the consideration of the dispute is carried out not by state judicial bodies, but by independent entities.
THIS TYPE OF SETTLEMENT OF COMMERCIAL DISPUTES HAS A NUMBER OF ADVANTAGES:
- the efficiency;
- a high level of qualification of arbitrators;
- a confidentiality;
- lower costs;
- decision binding on the parties.
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The international arbitration can be of two types:
- An institutional arbitration, which provides, that the dispute is considered by a specialized arbitration institution, which is selected by parties (International Chamber of Commerce, London Court of International Arbitration, Dubai International Arbitration Center, etc.)
- The arbitration Ad hoc: it is a consideration of a case by an arbitrator, who is selected by parties and is not associated with a specific arbitration institution.
It is necessary to competently approach the choice of the most suitable type of arbitration, taking into account all factors, advantages and disadvantages, it will not be superfluous to turn to qualified specialists, who will provide professional assistance in resolving a financial dispute.
YB Case team of professionals can provide qualified advice on choosing the form of international commercial arbitration for the most effective protection of your business.
