The Award General principles Parties resort to arbitration to obtain a final and binding resolution of their dispute. It is the arbitrators’ role to resolve the dispute by deciding all of the disputed issues and recording their decision in a document, called an arbitral award. Arbitral awards should be prepared with the greatest care to …
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Arbitration Institutions
Arbitration Institutions Historically, parties preferred litigation and were generally reluctant to use arbitration. This was particularly because some uncertainty that was considered to surround the enforcement of arbitral awards. Although there is still a degree of uncertainty regarding enforcement, local courts are now generally more familiar with the arbitration process and more willing to recognise …
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International Arbitration
International Arbitration What Is International Arbitration? International arbitration is similar to domestic court litigation, but instead of taking place before a domestic court it takes place before private adjudicators known as arbitrators. It is a consensual, neutral, binding, private and enforceable means of international dispute resolution, which is typically faster and less expensive than domestic court proceedings. The use of international arbitration has evolved to allow parties …
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