In International Commercial Dispute How Mediation, Arbitration And Litigation Work

1. Keyword: International Mediation URL: https://www.launchora.com/story/in-international-commercial-dispute-how-mediation In International Commercial Dispute How Mediation, Arbitration And Litigation Work When the business reaches behind the political territory of the nation, the things get more complex. The franchisors have to rely on the local franchisees to expand the business in a new nation. While two teams are working together, the dispute is a very common thing that can happen anytime. Both the parties want a solution without compromising the interest. In case, they get resolution from the discussion, then it is the best thing that can happen for the franchise, otherwise, they need to take part in International Mediation or other dispute resolutions methods. The main three methods for resolution of the franchise dispute are mediation, arbitration, and litigation. Among all, theInternational Mediationand arbitration are known as the Alternative Dispute Resolution Methods and Litigation is considered the Standard Dispute Resolution under the guidance of a national court. To understand the whole process properly, we will discuss the outline of all the available methods, especially for international commercial disputes. · Mediation: It is a non-binding resolution process where no authority will compel you to follow the decision made by the mediation. In this method, both of the parties sit together along with a facilitator who will help you to get the resolution. International Mediationis a way to settle the dispute out of the court. Indeed, the International Mediationis not that much popular to settle the commercial dispute as a huge amount of money is at stake for them and none of the parties want to compromise their interest for it. · Arbitration: You can say that arbitration is a way like private litigation. This process and method of execution are quite similar to litigation where both the parties have the power to influence it. They even enjoy autonomy to some extent. The arbitration process is customized as per the preferences of the parties. There are three arbitrators among them each party appoints one and the two appointed arbitrators will agree for the appointment of the chair of the Tribunal. For the international commercial dispute, this is the most preferred way of resolution and both the parties can have their choices. Apart from that, it is quite faster and cheaper than litigation. The parties can maintain the confidentiality of the dispute. Another reason is that people want to avoid court and litigation, so they prefer arbitration.

2. · Litigation: It is the most traditional way for dispute resolution where you have to visit the court to hear the judgment of the judges for the dispute