International Commercial Arbitration
International commercial arbitration is a means of resolving disputes arising under international commercial contracts. It is used as an alternative to litigation and is controlled primarily by the terms previously agreed upon by the contracting parties, rather than by national legislation or procedural rules. The parties will, by mutually agreeing, will choose and submit their disputes. They will authorize an objective professional, specialized in the subject matter of the dispute to be resolved. The parties may choose the place and language of the arbitration procedure and the law applicable to the dispute. The Arbitral Tribunal’s decisions are final, binding, and enforceable both internally and abroad, as in court rulings.
The advantages of Arbitration over the Court are that the settlement of the dispute with arbitration is usually quicker and costs less than the court procedures. According to the relevant rules, the Arbitrator must finalize the proceedings and issue their decision within nine months. Also, it is worth mentioning that the procedural rules in Arbitration are flexible and can comply with the specific needs and wishes of the parties. Handling of a dispute quickly and confidentially is very important, especially when the parties involved are businesses.
Our team possesses the knowledge and experience to provide legal services and advice at all stages and levels of the dispute settlement procedure through international commercial arbitration.