What are the advantages and disadvantages of international arbitration?

International arbitration offers a number of advantages and disadvantages in Oregon and other states. Advantages include a faster resolution of disputes, as well as increased privacy, since the proceedings are not made public. Furthermore, the parties involved in the dispute can choose a neutral arbitrator who is familiar with their legal system, ensuring an impartial decision. Additionally, international arbitration allows the parties to choose the applicable law they desire, and awards made by the arbitrator are generally more enforceable than those issued by other courts. On the other hand, international arbitration also has its drawbacks. For instance, it can be costly since each side must pay for the arbitrator’s fee as well as other costs associated with the process. Additionally, the decision of the arbitrator is not appealable and is binding on the parties. Moreover, the parties must also accept the arbitrator’s decision, even if it goes against their wishes. Moreover, international arbitration can also be time consuming depending on the complexity of the issue and the experience of the arbitrator. In conclusion, international arbitration has both advantages and disadvantages. While it can provide a faster resolution to disputes and increased privacy, it can also be costly and time consuming and the decision of the arbitrator is binding and not appealable. Therefore, it is important that parties carefully weigh all of the pros and cons before engaging in international arbitration.

Related FAQs

What are the advantages and disadvantages of international arbitration?

Related FAQs

Related Blog Posts