International arbitration offers many advantages over litigation. In particular, arbitration is a neutral process, meaning that neither party will have the case heard in their home jurisdiction’s courts and the potential bias that can occur. In addition, arbitration also offers:
Enforceability: The arbitrator will provide a clear solution to the dispute. There are international treaties in effect that provide for the enforcement of arbitral awards in over 130 countries. In other words, regardless of where the arbitration decision is rendered, it can be enforced by the judicial system in over 130 countries.
Speed: Arbitrations usually take less time than a court case to reach a decision. Due to the congestion of most court systems, it can take some time for a case to be heard, whereas arbitrations can be heard when it is mutually convenient for the parties.
Confidentiality: Arbitrations are private proceedings. Decisions rendered by arbitrators are not public documents.
Cost-effectiveness: Because arbitrations are usually quicker than litigation, this keeps lawyers’ costs down. Parties generally pay less for arbitration than if they proceed through their national courts.
Flexibility: You decide the dispute settlement parameters. You get to choose where the dispute will be heard, the number of arbitrators, the language of proceedings and so forth. Arbitration is a party-driven process that can be tailored to suit your needs.