Arbitration has many advantages over litigation, but one of the fundamental tenets behind arbitration, is the provision of a relatively inexpensive and quick means of resolving commercial and trade disputes.
One of the primary advantages of arbitration is the relative ease of enforcement of arbitral awards in states which are signatories to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958.
Finality is one of the key selling points of arbitration. Consequently, challenging an award before the English court is far from easy. There are obstacles in the path of any challenge or appeal and the available grounds are limited and closely scrutinised.
When a dispute arises which must, under the terms of an arbitration agreement, be referred to arbitration, the need might arise for urgent interim measures to protect a party’s position pending the outcome of the arbitration.
When a dispute arises which must, under the terms of an arbitration agreement, be referred to arbitration, the first step will be for the parties to appoint the tribunal. Finding the right arbitrators and ensuring that the relevant contractual, statutory or institutional requirements are complied with is vital.
Until a notice of commencement has been served, the arbitration process will not have commenced. It is not possible to start arbitration without first giving a Notice of Arbitration to all of the parties to the arbitration.
Which is best? This is an age-old question. Should you put an arbitration clause in your contract? And, if so, what sort of arbitration clause? In summary, there will never be a correct answer that applies to all circumstances. There is no straightforward solution and one size most definitely does not fit all.
Making an investment into another state, known as foreign direct investment (“FDI”), generally carries a significantly different risk profile from investment in an investor’s domestic market. FDI may be exposed to greater risks arising from the political, regulatory and economic environment of the State into which investment is made.