International Commercial Arbitration is a unique dispute resolution technique which works faster than the traditional court proceedings and also incurs less cost. It is becoming one of the most favorable means for the quick settlement of disputes because of its exclusive features which make it stand apart from the rest of conflict resolution methods.
Prominent Features of International Arbitration:
- Confidentiality - It is confidential in nature as the hearings and proceedings of the case are held in a private room where only the disputants and a panel of arbitrators are present. Any detail of the case is not disclosed to the general public.
- Flexibility - It allows for flexible scheduling, enabling the disputants to gain a better control over the case proceedings.
- Selection of Arbitrators - The involved parties can themselves select an arbitrator or arbitrators for their legal case after becoming fully satisfied with their education, knowledge and experience in dealing with similar cases.
- It allows large enterprises and big industries to resolve their disputes speedily without going through all the procedures of their respective legal systems.
It takes its foundation from a particular clause in a past contract which specially lays down all the rules and procedures to be followed during arbitration. Any business interested in resolving its disputes through international arbitration can use the Internet to get in touch with a reliable arbitration firm. Some dependable arbitration facilitators provide the exclusive feature of an Arbitration Cost Calculator on their website that helps clients to easily calculate the total price of services and to make an informed decision while choosing their service provider.
The best thing in International Arbitration is the flexibility and confidentiality, no headache, everything gets clear in the minds of disputants, they have control over the proceedings of the case.
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