When it comes to choosing the seat of Arbitration, it is imperative to consider important factors. Some of the factors are given below:

Geography

First important consideration for choosing the arbitration seat is geography. The seat will usually be the default venue for hearings; although hearings can take place elsewhere according to the parties’ desire, this is partly driven by convenience.

Furthermore, certain seats tend to be selected more in the context of transactions in different regions, although this is largely a matter of habit. For instance, a New York seat is common in the South American context, whereas London and Paris are typical choices in contracts relating to Africa and the Middle East. Similarly, Hong Kong and Singapore are steadily increasing their share of Asia-related arbitrations.

Language

Second important consideration is the language. Any court proceedings including any challenge to the award in the local language of the seat can be inconvenient and may increase costs to a certain extent. A well-drafted arbitration agreement will provide that the arbitration itself will be conducted in English or another language.

What Are Safe Arbitration Seat Options?

The safe seats are arbitration-friendly jurisdictions, which are in countries that are parties to the New York Convention, which plays an important role in allowing the enforcement of arbitral awards internationally. There are many “safe” options in terms of seat, including Paris, London, Geneva, Singapore, and Hong Kong.

There are many more logistical factors, such as availability in the seat of hearing rooms and associated services (particularly transcribers and interpreters), are sometimes cited as relevant considerations, especially when considering seats in developing countries. While such facilities are undoubtedly important in a hearing venue, they should not be decisive.

Consider the above factors in choosing arbitrator. For help, you should get in touch with a professional. For more information, feel free to choose Aceris Law’s United Kingdom Arbitration Lawyers Desk. They are a dedicated team of lawyers, which accompanies clients involved in arbitrations concerning the United Kingdom, i.e., where a contract is executed in the United Kingdom, the dispute is brought by or against a party in the United Kingdom, or the seat of arbitration is located in the United Kingdom (typically in London).

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