Review:
International Commercial Arbitration
overall review score: 4.5
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score is between 0 and 5
International commercial arbitration is a method of resolving disputes that arise in international commercial transactions outside the court system.
Key Features
- Neutral and impartial decision-maker
- Flexibility in procedural rules
- Confidentiality
- Enforceability of arbitral awards
Pros
- Offers parties a neutral forum to resolve disputes
- Allows for flexible procedures tailored to the needs of the parties
- Increases enforceability of awards internationally
Cons
- Costly procedure compared to traditional litigation
- May lack some of the formalities and due process rights of courts