International arbitration is arbitration between companies or individuals in different states, usually by including a provision for future disputes in a contract. The process may be more limited than typical litigation and forms a hybrid between the common law and civil law legal systems.
Several major international institutions and rule making bodies set out rules and appoint arbitrators. The most significant are the International Chamber of Commerce (ICC), JAMS International, the British Columbia International Commercial Arbitration Centre (BCICAC, Canada), and the International Centre for Dispute Resolution (ICDR), the international branch of the American Arbitration Association, the London Court of International Arbitration (LCIA), the Hong Kong International Arbitration Centre, and the Singapore International Arbitration Centre (SIAC).
There are factors that have a serious impact on the timing of a standard international arbitration procedure, as can be seen by modifying variables below. After selecting the date of the Request for Arbitration, which initiates the dispute, one can –
• See the impact of a counterclaim being submitted on the procedural schedule
• See the impact to the schedule when an international arbitration procedure is bifurcated into a jurisdictional and merits phase (which is common, although other forms of bifurcation are also common)
• Vary the time allotted to both parties by the arbitral tribunal to provide their initial and reply memorials,
• Vary the time it takes for an Arbitral Tribunal to render an award, which varies significantly depending on who is selected as arbitrator
While the procedural timeline generated is quite standard, it relies on a number of assumptions that will vary in each arbitration, since international arbitration procedure is highly flexible. The initial procedural schedule typically changes one or more times over the course of an arbitration, and international arbitration proceedings can become far more complex than the standard procedure below. If you are wondering how long it takes to resolve a dispute by international arbitration, and you would like to see the potential timing of procedural steps, you should visit the site now.
Once you discuss your needs to an International Arbitration Law Firm attorney, you can find everything of your interest and the purpose. Next, when it comes to know how much time is required from start to finish in an international arbitration procedure, there’s a tool to know that.