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.