Arbitration
What is it?
Arbitration is an extrajudicial form of dispute resolution in which, following an agreement by both parties, the decisive intervention of the courts is substituted by that of one or more arbitrators.
“Arbitration is a particularly suitable alternative for disputes in international transactions between companies.”
The fundamental basis of arbitration is therefore the voluntary will of all parties, which can freely agree to submit current or future disputes to arbitration, designating the arbitrators who will decide on the said disputes and the way in which the arbitration process will be carried out.
Arbitration is a particularly suitable alternative for disputes in international transactions between companies, since it avoids the parties involved being subject to the judicial administration of one of the parties’ countries, and rather allows them to opt for one which is considered mutually appropriate.