International commercial arbitration is chosen by most businesses in virtually all industries for resolution of their cross-border disputes. A neutral forum and flexible process leading to an award enforceable almost everywhere are advantages that litigation does not offer.
International commercial arbitration is chosen by most businesses in virtually all industries for resolution of cross-border disputes.
However, international arbitration – like international business itself – presents unique challenges, for the parties may speak different languages, come from different business and legal cultures, and even have different ethics. Those challenges can be met by arbitration agreements, arbitral institutions and institutional rules, “soft law,” skilled counsel, and experienced arbitrators.
Skilled counsel and competent arbitrators can resolve cross-border disputes efficiently and speedily, fairly and finally; inept counsel or inexperienced arbitrators can turn the international commercial arbitration process into a ‘teenager’s bedroom.
This article identifies the key differences between international and domestic dispute resolution, and it offers guidance as to how the unique challenges of international arbitration can be met.