Commercial arbitration

 

By Roland Romata

Using commercial arbitration as dispute resolution method is widely accepted within the modern commercial environment. This is a fully private process, which means that there are no obligations to publish any details of the agreement. As the public will have no access to the details of the process, the parties will be able to protect commercially sensitive agreements as well as to continue their uninterrupted operation.

Invaluable flexibility

Commercial arbitration provides great flexibility for the parties. This consensual dispute resolution can even be used between companies where one of the parties is not domicile in the same country. The commercial arbitration will have the required flexibility to conclude the dispute considering the differences between the legal jurisdictions.
Most of the modern commercial agreements will have set commercial arbitration as the primary dispute resolution method in case the companies face a dispute.

Despite being a private process, the outcome of the arbitration will be binding on the parties. It is important to know that there is very little room for appeal against the settlement.

Can I use arbitration?

As a case handler, I have dealt with various commercial disputes ranging from breach of contract to disputes between directors and other intellectual property disputes. Arbitration will be available for all these matters. For example, if a major national company fails to fully honour an agreement then the other party can propose to settle the dispute using mediators. Based on my experience, this is the most effective way of dealing with the issue as any major corporation will aim to avoid publicity, which gives smaller contractors a major negotiating power.

It is important to note that arbitration is a consensual dispute settlement process, which means that both parties will need to agree to use arbitration to solve their dispute. If there is no consensus on using commercial arbitration for settling the dispute then the parties will inevitably end up in court.

Roland Romata is one of Caven’s most knowledgeable case handlers with extensive experience in this matter from dealing with clients on a day-to-day basis.

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