Arbitration

overview

Arbitration is often used for the resolution of commercial disputes, particularly in the context of international commercial transactions. Arbitration a form of alternative dispute resolution (ADR) is a way to resolve disputes outside the judiciary courts. The dispute will be decided by one or more persons (the ‘arbitrators’, ‘arbiters’ or arbitral tribunal’), which renders the arbitration award’.

Arbitration agreements are generally divided into two types:

Agreements which provide that, if a dispute should arise, it will be resolved by arbitration. These will generally be normal contracts, but they contain an arbitration clause.

Agreements which are signed after a dispute has arisen, agreeing that the dispute should be resolved by arbitration (sometimes called a “submission agreement”)