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Article: International Commercial Arbitration- An Overview.
- Article from:
- Mondaq Business Briefing
- Article date:
- December 2, 2002
CopyrightCOPYRIGHT 2002 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Arbitration is intended to provide a quicker, less expensive, and more private alternative to litigation. This voluntary and intelligent assent to an alternative dispute resolution mechanism allows for decision making other than by law-involves commitment and credibility. International commercial arbitration has increased in popularity and use over the past decade as the business community has begun to realize the allure of arbitration proceedings.
Instead of submitting claims to a prolonged and potentially expensive suite in a civil court system, contacting parties can submit their claims to binding arbitration- the method often forgotten by professional is at ...