Indeed, international arbitration has become an effective and common way to resolve the dispute. However, there are several myths surrounding the arbitration’s costs, which put people off for choosing it.
Below are some of the myths and truths about the arbitration costs:
Myth # 1: Expensive Dispute Resolution Method
People avoid choosing this dispute resolution method, as they believe that this dispute resolution method is quite expensive and it goes way out of their budget.
Fact:
International arbitration can be cost-effective if you choose right arbitrators to resolve your dispute with another company. Professional and right arbitrators can provide you with services within your budget and help you manage the costs. Even more, arbitration can be much less expensive compared to the court proceedings.
Myth # 2: Higher Arbitration Cost Means Better Results
Many people have the misconception that higher rates mean better results in this dispute settlement method.
Fact:
There are many arbitrators accessible in the industry; those can provide services in your budget. You can choose a professional and resolve the dispute in a cost effective way. Thus, when you can find services at less price, then why pay more with litigation.
Myth # 3: Arbitration Cost is Unpredictable
People believe that it is not possible to predict the arbitration cost.
Fact:
You can easily get the estimated expense for the procedure through an arbitration cost calculator. There are many arbitration cost calculators available online that can help you to estimate the cost. This calculator will provide you with the exact amount and you can set your budget accordingly.
The above-mentioned facts show that you can easily choose arbitration without worrying about the expenses. So, choose international arbitration today and resolve your disputes out of the court without going out of your pocket.
For a better understanding of arbitration, you can contact Aceris Law’s ICSID arbitration lawyer’s desk. While speaking French, Arabic, German, Czech, Slovak, Serbo-Croatian, Spanish, Italian, Romanian, Russian, Farsi, and English, they have access to all public international law jurisprudence and doctrine. Their ICSID Arbitration Lawyers Desk has significant experience of many years with ICSID arbitrations and an excellent record of accomplishment.
The trained lawyers of Aceris Law’s Harvard, Oxford, and Sorbonne are admitted to bars of Western Europe, Eastern Europe, and North America and have significant prior experience dealing with investment treaty arbitrations under the rules of ICSID Arbitration.
To learn more, feel free to visit https://www.acerislaw.com.
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