Business disputes are almost inevitable, and when the parties cannot agree an answer between them, finding the right resolution method quickly is critical. Avoiding lengthy delays and allowing a peaceful progression of the project, as well as offering the possibility of maintaining harmony between the disputing parties, promotes the best chance of a successful, overall result. Dispute resolution through arbitration gives a neutral, confidential and enforceable answer to the problem.
Finding the key to the issue is not the only challenge that parties face when entering dispute resolution through arbitration. Working within a global marketplace will often result in cross-border disputes and having a decision which is enforceable across multiple jurisdictions is often necessary.
Unlike the semi-comparable High Court judgements, decisions reached through arbitration are automatically enforceable in cross-border disputes. Other benefits of this method of dispute resolution include:
- It can only take place if both parties have agreed to it
- The parties can elect the arbitrator themselves
- The neutrality of the process. The open choice of language, applicable law and location means that no party has an advantage
- It's a completely confidential procedure
- The decision is binding, final and easy to enforce
- It can help to formulate risk management strategies to help prevent further disputes
The use of arbitration across a wide range of high net worth industries, such as gas, oil, mining, energy, finance and construction, is evidence of its particular efficiency in dispute resolution. Disputes can be heard under UNITRAL Arbitration Rules and arbitration can also take place in a wide range of venues, making it flexible and personal for the parties in dispute. These include:
- London Court of International Arbitration
- International Chamber of Commerce
- Court of Arbitration for Sport
You can access advice from an Oratto member dispute resolution lawyer online by making a selection from the list of lawyers on this page. Whether you are looking to defend a claim or bring one, Oratto can offer you the right solicitor for your needs. If you prefer, you can send your details to Oratto and we will use our Match option to locate the most appropriate lawyer for your individual circumstances.
Contact Oratto today for solid, impartial, experienced advice on dispute resolution through arbitration.