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Bookmark or Share- 10 Reasons Why Companies Prefer to Resolve International Commercial ...Therefore, companies prefer to resolve international commercial disputes by arbitration. Here are ten reasons why: Foreign arbitral awards are enforceable. Foreign arbitral awards are enforceable in at least 172 countries under the New York Convention or, if applicable, the Inter-American Convention on International Commercial Arbitration.
- Quickguide Introduction to international arbitration - Ashurst19 April 2024. This QuickGuide was last updated in April 2024. International arbitration is the preferred method of resolving cross-border disputes. 1 The neutrality it offers, together with the relative ease of enforceability of awards, can make it a more attractive forum for disputes than litigating in contracting parties' national courts.
- HKIAC Updates Flagship Administered Arbitration RulesCompared to the 2018 version – which introduced significant amendments such as early determination, third-party funding, emergency arbitration and improvements on multiple contracts and arbitrations – the current 2024 version, as HKIAC puts it, is largely a "refinement" to arbitration rules already widely recognised as market-leading.
- UNCITRAL Model Law on International Commercial ArbitrationThe Model Law defi nes an arbitration as international if “the parties to an arbitration agreement have, at the time of the conclusion of that agreement, their places of business in different States” (article 1 (3)). The vast majority of situations commonly regarded as international will meet this criterion.
- International Arbitration: What it is and How it WorksInternational commercial arbitration, the most common form of international arbitration, occurs between parties based in different countries. Most commercial arbitration cases involve contractual disputes between corporations.
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