International commercial Arbitration has many advantages including neutrality, procedural flexibility and party autonomy, greater privacy and confidentiality than national court litigation and the submission of the dispute to a panel of experts. Even more, the international commercial arbitration is different from national court litigation as it is intended to be less formal and more practically focused on the commercial substance of the dispute. This makes international commercial arbitration as the dispute resolution mechanism of choice for many parties to commercial contracts.

In this article, we’ll delve into some of the important points regarding international commercial arbitration:

The foundation for the process of international commercial arbitration is the international arbitration agreement most often contained in the contract, which records the Parties’ consent to refer the dispute to arbitration rather than national domestic courts and finally bound by the final award rendered by the international arbitration tribunal constituted specifically to hear the dispute.

International commercial arbitration is a consensual process of adjudication independent from a state’s executive, legislative and judicial powers by which the parties to a cross border contract agree to submit a dispute to an arbitrator (or panel of arbitrators, usually three), nominated either directly by the Parties or for the Parties by an international arbitration institution (or more rarely by a national court), to resolve their dispute by way of issuance of a final and binding award in accordance with rules of procedure chosen by the Parties allowing them the opportunity to be heard.

International commercial arbitration is to be opposed to other processes, which do not lead to a final and binding resolution of the dispute. For example, mediators and conciliators are neutral third parties who intervene within the Parties’ contractual relationship to facilitate and seek an agreement or propose a settlement solution, but lack the power to adjudicate the dispute.

International commercial arbitration is also to be opposed to an expert determination, which is often provided for in technical and construction contracts in cases of disagreements relating to accounting, engineering, and more whereby an expert renders a resolution binding upon the parties after having conducted an investigation on the basis of his/her own expertise and knowledge. In this case, the research and investigation occurs independently of the parties, which do not have an opportunity to be heard in respect of the specific disagreement referred to the expert.

Are you searching for Geneva arbitration lawyer desk?

Aceris Law’s Geneva Arbitration Lawyers Desk is a dedicated team of lawyers at Aceris Law, a specialized international arbitration law firm, which accompanies clients involved in arbitrations concerning Geneva, i.e., where Swiss law applies, a contract is executed in Geneva, the dispute is brought by or against a party in Geneva, or a Swiss State entity is involved.

They have significant prior experience with arbitrations involving Geneva. For example, Aceris Law’s Geneva arbitration lawyers desk has served as counsel in ICC proceedings between a Northern Irish and Swiss company under Swiss law with its seat in Geneva, has served in multiple arbitrations under Swiss law involving construction projects in West Africa with their seat in Geneva, has served in arbitrations under Swiss law in the chemicals industry, has represented a Swiss company in an UNCITRAL arbitration against an United Nations Agency with its seat in Geneva and has acted as counsel in mediation proceedings between Swiss companies and companies of various nationalities, inter alia. They also maintain ties to the best domestic lawyers for enforcement proceedings in Switzerland before domestic courts.

To learn more, feel free to visit https://www.acerislaw.com.