When it comes to choosing the international Arbitration, there are so many things that you need to consider. One of them is the arbitration seat. The parties should pay particular attention to the selection of the seat of the arbitration. This will affect the potential procedural incidents, provisional remedies; those can represent the parties in the arbitration, who can be nominated as arbitrators, the enforceability of the award, the annulment of the award, and cities like Paris, Geneva, London, Stockholm, and New York are often selected as place of arbitration for their arbitration-friendly laws.

When the Amount in dispute is important, it is usually preferable to have a three-arbitrator panel. If the amount in dispute is low, a single person panel will be more appropriate as this will reduce costs of arbitration related to the fees for arbitrators. Thus, it is important to consider the arbitration cost. Furthermore, with some consideration, you can also cut off the arbitration cost. To calculate the cost, you can use arbitration cost calculator. Hence, it could be preferable to specify that a single arbitration will be nominated if the amount in dispute is lower than a threshold amount, such as 2 million USD. To the contrary, if the amount of the claim is higher than the agreed threshold amount, the panel will be composed of three arbitrators.

Additionally, it is important for parties to agree in advance on the language of arbitration. Here again, this will avoid unnecessary debates and additional points on which the arbitral tribunal will have to decide on. Usually the language of the contract is elected as the language of the arbitration. It can be useful to mention that the mandatory rules of law of the place of the arbitration apply in any case to the arbitration proceedings.

For more information, contact a renowned Icc Arbitration lawyer of Aceris Law. Their lawyers have served as counsel in dozens of ICC arbitrations, establishing an excellent record of accomplishment in the process. For instance, they recently served as counsel in a successful multi-party ICC arbitration on behalf of Canadian client under English law involving the construction of an industrial plant in Saudi Arabia, where their client was awarded all damages and the USD 131 million counterclaims was defeated. They also recently represented a client from Singapore in ICC arbitration under French law that was settled on highly favorable terms. Thus, Aceris Law ensures that, the arbitrations involving ICC are handled efficiently and more cost-effectively than was traditionally possible by having a dedicated, multilingual team for arbitrations concerning ICC.

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