Businesses will invariably get into dispute and terms of contracts will be breached. The question of how these disputes will be resolved is one of the most important consideration for any business. There is of course the legal route through the courts where parties can resolve their disputes and then we have the different types of Alternative Dispute Resolution (ADR). In this article, we are going to look at the advantages of using Arbitration as an effective Dispute resolution process which many organizations are now adopting as the vehicle to dispute settlement.
In brief, arbitration is a method of alternative dispute resolution, often used instead of litigation. It is a form of alternative dispute resolution (ADR) in which a third party will reach a binding decision upon the parties to a dispute. Rather than a judge deciding on the merits of the case in a court room, an arbitrator will decide on the issues in dispute and is able to enforce a binding decision on the parties.
Arbitration will often be undertaken because certain business contracts provide for arbitration should any dispute arise between the parties. But, also, in the absence of any provisions for arbitration in the business contracts, parties may, nevertheless, agree that arbitration is best suited to the dispute and agree to settle through this method rather than litigation.
Arbitration, like all the other dispute resolution processes has its advantages and disadvantages. In this article, we are going to look at some of the advantages of using this route for resolving international disputes for cross-border commercial arrangements.
The Pros of Arbitration versus Court Litigation
About the Author
Elahe Ghazinoori is the course facilitator for PLUS Specialty Training’s Legal courses including Certificate in Business and Commercial Law, Arbitration and Dispute Resolution, Mergers and Acquisitions, and Legal Writing Skills.
Elahe Ghazinoori founded EMG Associates, a legal consultancy firm in 2006, having formerly practiced as an in-house solicitor for a telecommunications company. As EMG Associates' principal presenter, she has a wealth of experience in providing inspiring and engaging training sessions.
Elahe has trained hundreds of lawyers and legal professionals around the world on subjects such as company law, commercial law, contract law, drafting skills, partnership law, insolvency and bankruptcy law, corporate finance, intellectual property and dispute resolution.
Elahe lectures for BPP Law School in their Legal Practice department on subjects such as business law and private company acquisitions. She has also worked as a senior training consultant for over 5 years for one of the world’s largest corporations, American Airlines.
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