1 / 14

Arbitration and its efficiency

Arbitration and its efficiency. The Definition Of Arbitration Arbitration And Efficiency Arbitration In a Domestic Environment Arbitration In an International Environment Conclusion By: Crisovalante Raptis. What is Arbitration?.

pravat
Download Presentation

Arbitration and its efficiency

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Arbitration and its efficiency The Definition Of Arbitration Arbitration And Efficiency Arbitration In a Domestic Environment Arbitration In an International Environment Conclusion By: Crisovalante Raptis

  2. What is Arbitration? Arbitration is a method of resolving disputes arising out of an agreement made by two or more parties.

  3. The Basic Features & Implicit Values of Arbitration • There is a binding agreement between the parties to submit an existing dispute or any dispute that may arise to impartial third persons who are chosen by the parties. • The dispute has to be present before the arbitration process is originated. • The arbitrators should be neutral and qualified and they should give both parties the opportunity for a fair hearing. • The arbitrators’ award is normally confidential and is intended to be final in binding all parties to the award.

  4. Efficiency of The Arbitration Process • Arbitration VS Litigation • Which Are The Factors That Business People Should Take Into Account Before They Include An Arbitration Clause In Their Agreement? • How Can We Minimize The Various Costs Of The Arbitration?

  5. Arbitration VS Litigation • Arbitration Offers a Higher Level of Flexibility as far as Hearing Arrangements and Procedures are Concerned • It Also Provides the Parties with Privacy Due To Its Confidential Nature Is Arbitration However, Quicker and Less Costly Than Litigation???

  6. Uncertainty Factors Such As: • The Nature Of The Dispute • The Reasons That Might Have Led To The Dispute • The Relationship And The Trust Between The Parties Cannot Be Know With Certainty. Also, • Feeling of Security and Fairness is Essential

  7. The Domestic Business Environment & The Factors That Will Decrease Uncertainty & Costs • The Nature Of Business Can Provide An Estimation Of The Amount Of Future Disputes • Business That Are Highly Involved In Various Individual Transactions Are More Likely To Come Across A Higher Frequency Of Disputes • Common Disputes Tend To Be Less Complex When Disputes Of One Kind Are Repeatedly Arise, The Use Of Arbitration Is Advantageous To Litigation

  8. On The Other Hand • For Disputes Of a Particular Nature and • For Disputes Of a Higher Degree Of Complexity The Use Of Litigation Process Is Advantageous To Arbitration. Litigation Provides : • a More Stable and Secured Environment For The Settlement Of a Dispute and • A Choice Of Appealing In Higher Levels Of Court

  9. The Arbitration Process In An International Level • Provides a Neutral Forum For The Resolution Of International Disputes • International Arbitration Awards Are Easier To Enforce Than National Court Judgments “ When it comes to international arbitration, the focus should be less on whether it is cheaper or quicker than litigation, and more on how the arbitrators, the parties and counsel can make it as fair and efficient as it can be”

  10. Efficiency Of Arbitration • Arbitration Is Associated With Less Time-consuming Procedures and Costs Compared to Litigation Only If the Arbitration Procedure is Successfully Completed

  11. Overall • Arbitration Clauses • Should Be Kept Simple And Clear • The Number Of Arbitrators • Complex Contracts Small Disputes 1 Arbitrator Quicker and Cheaper Procedure (In a domestic environment) • Two Parties  Two Very Different Legal Systems 3 Arbitrators Greater Efficiency & Fairness (In an International environment)

  12. How Are The Arbitrators Appointed? • In a Process Where 3 Arbitrators Are Used to Resolve The Dispute, One Is Appointed by Either Party and Then Both Arbitrators Select the 3rd Arbitrator.

  13. The Language Used In The Arbitration Process • In an Arbitration Process Where 3 Arbitrators are Appointed and in a Dispute of An International Level, the Language That is Used is The One Spoken By the 3rd Arbitrator ( The One Selected By the Other 2 Arbitrators)

  14. Final Point!!! • The Arbitration Clause Is A Separate Legal Document. • Even If a Contract Is Invalid, The Arbitration Clause Is NOT • In a Case Where The Two Parties Are Disputing About the Validity of The Contract Which Contains An Arbitration Clause, The Dispute must be solved Through An Arbitration Process

More Related