StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

What are advantages and disadvantages of arbitration in international law Discuss - Essay Example

Cite this document
Summary
A common occurrence in business dealings is disagreements and disputes over different issues. Once the disputes escalate the normal route was to take the issue to court. The courts in the…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.3% of users find it useful
What are advantages and disadvantages of arbitration in international law Discuss
Read Text Preview

Extract of sample "What are advantages and disadvantages of arbitration in international law Discuss"

Download file to see previous pages

Out of the necessity to find a systematic way to resolve business problems alternative dispute resolution systems (ADR) gain tremendous popularity. The most common and utilized ADR is arbitration. This paper studies international arbitration law by analyzing how it works and providing examples of real life arbitration cases. It provides insight into the advantages and disadvantages of utilizing arbitration to resolve conflict in international business affairs. Arbitration is a relative new concept in the modern business world.

One of the first cases in which arbitration was utilized in a business transaction in the 20th century occurred in 1943. In that year the New Your City Council Claims’ Manager Council appointed a committee to as an arbitration board to resolve to arbitrate certain automobile physical damage subrogation claims dispute that arose among the members of the council (Arbfile, 2002). Arbitration had been utilized previously to find peaceful resolutions to war conflicts and by diplomats to solve problems between nations.

Contrary to common beliefs the roots of the utilization of arbitration were not planted in this century, they date back thousands of years. Alexander the Great utilized arbitration as a means to settle territorial disputes arriving from a peace treaty he had negotiated with the Southern States of Greece in 337 B.C. (Massey). Current and past history demonstrates that arbitration has always been a commonly utilized method to find resolution to problems involving countries and territories around the world.

Arbitration cases in business disputes involve two parties with a problem in which neither of them whishes to take the case to court and are unable to resolve the problem themselves. In order to find a solution the parties decide to delegate the responsibility of finding a solution to a person or panel of people. The

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“What are advantages and disadvantages of arbitration in international Essay”, n.d.)
What are advantages and disadvantages of arbitration in international Essay. Retrieved from https://studentshare.org/miscellaneous/1541760-what-are-advantages-and-disadvantages-of-arbitration-in-international-law-discuss
(What Are Advantages and Disadvantages of Arbitration in International Essay)
What Are Advantages and Disadvantages of Arbitration in International Essay. https://studentshare.org/miscellaneous/1541760-what-are-advantages-and-disadvantages-of-arbitration-in-international-law-discuss.
“What Are Advantages and Disadvantages of Arbitration in International Essay”, n.d. https://studentshare.org/miscellaneous/1541760-what-are-advantages-and-disadvantages-of-arbitration-in-international-law-discuss.
  • Cited: 0 times

CHECK THESE SAMPLES OF What are advantages and disadvantages of arbitration in international law Discuss

Enforcing Arbitration Agreements and International Commercial Arbitration

Enforcing Arbitration Agreements and Awards for non-signatories in international Commercial Arbitration International Commercial arbitration is a grand instrument which is used as a primary key to fairly invoke major settlement changes that can or has occurred in a deal or transaction during a business venture.... hellip; Some of these transactions will take place at issues of important cases concerning involvement related to non-signatories as well as parent and sister companies including its subsidiaries being intrinsic to the corporate veil while adhering to follow convention laws that are used to enforce agreements that may pertain to awards stemming from an official ruling or outcome being consistent in international negotiations, investments, and practices....
22 Pages (5500 words) Essay

Advantages and disadvantages of alternative dispute resolution over litigation in international business

As noted by Shamir ADR is applied in different civil law policy situations, and not just in global Institutionalized in a lot of court systems and justice systems around the world.... In the same way equity was introduced in the English legal justice system which came in stages to control the ruthlessness and inflexibility of the common law, is the way ADR was introduced to control litigation.... Use and Cost of litigation According to Nolan-Haley litigation has been mostly used as a traditional way of resolving disputes, whether they are local or international business transactions....
14 Pages (3500 words) Assignment

Legal Issues in Court Trials

The writer goes deep into the advantages and disadvantages of Court Trial and concludes with the same.... He argues the advantages and the disadvantages of ADR.... After having discussed the brief functions of Court Trial, the writer then dwells on the advantages and the disadvantages of Court Trial.... Let us discuss the forms of ADR before we move further.... ?? Understanding the point of view given in the above case, it can be inferred that the Courts made it clear that it would not obligatory on the part of the parties to opt for arbitration; however, in the same proposition Courts do feel that the parties should try their utmost best to opt for ADR in settling the disputes....
8 Pages (2000 words) Essay

Quantity Surveyors Role in Construction Dispute Resolution

If there is no provision of arbitration in the contract then a voluntary agreement is made between the partie... In addition, I strongly believe that we discuss techniques which are being discussed and administered under Arbitration Act 1996.... The process of conducting this technique is simple and basic, where the two parties meet, preferable face to face, discuss upon the issues, finally coming to a mutually agreeable point.... Hence the role of QS is most relevant in this technique as there is very less involvement of law and very high level of involvement of numbers and activity monitoring....
8 Pages (2000 words) Assignment

Importance of International Arbitration in International Business

Importance of International arbitration in international Business Introduction International arbitration is one of the most important means of solving international business rows especially amongst investors and the countries they invest in the current economic and legal world.... International arbitration in international businesses is always based on the agreement amongst parties that whenever a dispute arises on any matter in the business contract, the parties must submit the dispute to a tribunal appointed to arbitrate on the matter rather than resort to litigation....
11 Pages (2750 words) Essay

A Systems Approach to Conflict Management

The paper 'A Systems Approach to Conflict Management' focuses on Alternative Dispute Resolution (ADR) which refers to all the alternative mechanisms or techniques by which individuals and organizations resolve legal issues or disputes without going to a court of law.... In fact, the judicial system/process is currently encouraging and requiring conflicting parties to utilize the Alternative Dispute Resolution processes, particularly mediation, prior to taking such cases before a court of law....
7 Pages (1750 words) Term Paper

Alternative Dispute Resolution in Contracting

This research paper will explore the alternative dispute resolution in contracting, highlights their advantages and/or disadvantages, recommend steps to prepare for each type of action, and discuss how legally binding the decided outcome of each ADR may be for the parties involved.... Disputes in contracting have often been attested by numerous court cases that are reported in court proceedings, law reports as… Such disputes have severe implications on the projects being undertaken, especially if they are not handled in a timely manner....
10 Pages (2500 words) Research Paper

The Principle of Confidentiality in Relation to Mediation

Recently in Farm Assist limited (in liquidation) v The Secretary of State for the Environment, Food and Rural Affairs1, the mediator was summoned by one of the parties to give evidence of what transpired in the mediation proceedings that took place some five years ago as the mediator's evidence was necessary to decide on the issue concerning the allegation that settlement had been obtained under economic duress....
12 Pages (3000 words) Dissertation
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us