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:
- Avoidance of litigation in a foreign and unfamiliar system and certaintyregarding the applicable law and the rules of procedure.
- Faster and more effective than the court system.
- Parties’ selection of the Arbitrator considering the nature of the dispute
- Relatively broad enforcement ability for international arbitration rulings.
- Confidentiality.
For more information: www.swiss-cadr.com
