It is a bitter truth that nowadays even the petty cases have the ability to damage the relationships, tarnish reputations and eat up an enormous sum of money and time. Thus, there has to be some way out to nip the lawsuits in the bud, resolve the long-standing disputes while providing the best solutions to the old fights. Even if you are not concerned about the damage being caused to the relations, what about the business costs of litigating the disputes? Thus, there needs to be some alternative to it.
Have you ever heard about the term “arbitration”? It is the method of resolving the disputes in which the parties select the individuals who will finally decide the matters in issue following the process with minimum or no court intervention. International arbitration involves the parties from different countries. Arbitration is known to eliminate the problems that are inherent in litigation.
International arbitration has offered great benefits which include:
- -You can now select the arbitrator that solely depends on the nature of the case which can be either technical or legal.
- International Arbitrator usually spends more time on cases than the judges can. This can further trigger the better decisions.
- Arbitrators offer you more flexible schedules than judges and are always available even during holidays or in evenings. Arbitrators generally come up with a business-like approach to the resolution thus making it less conflict.
- It has totally diminished the time and expenses in meeting the rigid evidentiary rules. Thus, it is less costly and much quicker.
Thus, it’s time to decide whether you need arbitration or litigation that solely depends on how important is the confidentiality for you. If it is of higher priority, you must go for international arbitration.