International arbitration is an alternative way of resolving disputes between parties to international business and commercial agreements. International arbitration takes place pursuant to an agreement or a clause in an agreement between the parties to a transaction according to the rules agreed upon between them and does not usually require observance of the laws or litigation procedures of a country to which one of the parties involved in the dispute is subject to, unless the parties decided otherwise.
The arbitrator’s ruling given in an international arbitration in a country which is a signatory to the New York Convention may be enforced in any other country which is a signatory to the Convention.
The advantages over litigation in a foreign court:
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