What is the process for resolving international commercial disputes?

International commercial disputes can be resolved in different ways depending on the type of dispute and the parties involved. Generally speaking, there are two primary ways to resolve a commercial dispute – settlement or litigation. When it comes to settlement, Virginia’s International Business Law allows for alternative dispute resolution (ADR). ADR is a process in which the parties involved in a dispute agree to resolve the matter without going to court. This can involve negotiation, mediation or arbitration. In negotiation, both parties involved attempt to come to a satisfactory agreement on their own. In mediation, an impartial third person, known as a mediator, helps the parties to come to an agreement. Lastly, in arbitration, an arbitrator is chosen to review the evidence and make a binding decision. If settlement is unsuccessful, the parties may opt to litigate the dispute. This involves going to court and having a judge or jury decide the outcome. Litigation is often a lengthy and expensive process, which is why many choose to settle out of court. In Virginia’s International Business Law, the laws related to international commercial disputes can be found under Title 8 and Title 10 of the Code of Virginia. Courts in the state may also rely on the International Commercial Arbitration Act to resolve international commercial disputes.

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What is the process for resolving international commercial disputes?

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