What is international arbitration?
by Olivier Mouradian
- Trying to anticipate future conflicts
In the event of a dispute, it is always best to reread your contract to see if you can avoid going to court, but above all to try by all means to avoid a dispute is always the best solution,
To do this, you must already provide for this when writing the contract:
- An exit clause,
- International arbitration clauses and disputes,
- Cases of negotiation, mediation proceedings,
In order to force all the different parties to meet before bringing an action before the court designated in the contract.
For example, to provide for the application of a clause (force majeure or other), an increase in prices following an increase in a currency or the price of certain raw materials, taxes or services (transport, oil, steel).
- What about arbitration or international arbitration?
This solution offers the advantage of absolute confidentiality (only the parties are present) and its decision will have to be enforced.
This is why an arbitration clause can be included in the contract at the drafting stage, indicating what the rules will be and who will arbitrate; or mention an international arbitration body.
Advantage: an arbitration clause obliges any other judge to declare himself incompetent.
Arbitration is faster than court proceedings, but is often more expensive.
It is therefore recommended in this case to call a professional to tell you what this changes in terms of warranties, constraints and risks.
Do not hesitate to ask for a free and non-binding first meeting to discuss in greater detail on a subject of your choice.