Which arbitration centre to choose

Arbitral institutions are being regularly created on each continent, in a reflection of an increasingly globalized world requiring neutral, but effective, dispute resolution mechanisms. It is only one of many arbitral institutions which can be considered today, however, and may not always be the best choice depending on the location of the parties and the characteristics of potential disputes that may arise.

Below, you will find a list of I the leading arbitration institutions, as well as II regional, specialist and lesser-known generalist arbitration centres , whether they concern a specialized subject matter such as FINRA securities arbitration or CAS sports arbitration or whether they have been created to resolve regional disputes.

It is popular for disputes involving the post-Soviet states. Founded in , the AFA is an organization based in France which administers both domestic and international arbitration cases. It is located in Melbourne. This scrutiny and approval process may prevent unwanted surprises when enforcing the award, and therefore, all in all, will reduce costs.

A strongly and actively managed proceeding generally indicates that the institution has means it uses to keep the process moving. This might be preferable when it is expected that the opponent may beuncooperative.

However, there may be certain cases which make a hands-off approach more attractive. For example, if the case is so complicated that makes it impossible for the respective counsels to put forward each party's main arguments at the very beginning of the arbitration, ICC arbitration might not be the perfect choice, as it requires the parties to sign Terms of Reference in which counsels are expected to summarise theircase.

Cost is important, but it is not everything. This is particularly reflected by the fact that although the ICC tends to be the most expensive institution, it is at the same time the most popular. Naturally, when drafting arbitration agreements, businesses should always bear in mind the cost of arbitration if things go wrong.

However, the important question to be asked is—do the benefits of that particular arbitration institution outweigh its costs? Having compared the costs of different arbitration institutions, the next volume will explore the differences in the rules of arbitration institutions, and how these may affect the choice of an arbitration clause. The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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Pre-nups and arbitration agreements A metaphor used by Prof Dr. Comparison of costs ICC arbitration In an ICC proceeding, the arbitrator's fee and administrative charges depend on the amount in dispute ad varolem system. The administrative charges are based on a fixed percentage of the amount in dispute. The administrative charges are based on a fixed percentage. What should businesses bear in mind? First of all, be ready to pay For businesses referring a dispute to an arbitral institution, it is important to know that the institution will not only claim a first filing fee but will also require pre-payments to be made.

Second, the numbers above are not everything The total cost of an arbitral proceeding is more than the sum of the arbitrator's fee and administrative charges.

Third, a higher price usually implicates more service The extent, to which an arbitration institution will get involved in the management of the proceeding, varies. Fourth, more service is not always better or necessary A strongly and actively managed proceeding generally indicates that the institution has means it uses to keep the process moving.

So, when it comes to cost, it is not a matter of selecting 'the best' institution, but only the best institution for the dispute in hand? Competition is fierce! There must be good opportunities for businesses. First published by LexisNexis , in It is rare for English courts to refuse enforcement of an arbitral award: English law is known for its staunchly pro-arbitration stance, and the Arbitration Act permits non-enforcement Switzerland is generally a difficult jurisdiction in which to obtain information about another party's assets due to strict privacy rules and culture.

Understanding what you need to do when faced with the prospect of litigation is essential for in-house counsel. In this session Ana Lelliott provides her top tips for dealing with commercial disputes, Gatehouse Chambers. The Claimant relies upon an expert's report. The Defendant doesn't. Which approach should the Court take:. Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email. Register For News Alerts.

Article Tags. NOV Securitisation Outlook and Key Tax Updates for More Webinars. Artificial Intelligence. Aviation Finance. The choice of Luxembourg as an arbitration centre is justified by the numerous advantages of the country.

The main advantages of the country are its neutrality, political and social stability, strategic location in Europe half way between the London-Milan axis and the Paris-Frankfurt axis and the quality of transport infrastructure, logistics, telecommunications less than a two-hour flight from the main European capitals.

In addition the multilingualism of its citizens French, German, English, Luxembourgish as well as the multi-cultural environment understanding of Germanophone et Francophone cultures favours an open and international attitude and a recognised aptitude for managing conflicts and reconciling opposing positions in a spirit of compromise and neutrality, thereby favouring the maintenance of commercial relations between the parties.

Finally, an economy which is diversified but which also specialises in certain high technology fields, ensures the presence of technical experts in the various fields. The existence of an international and world recognised financial centre guarantees a spirit of innate confidentiality as well as financial expertise. The Arbitration Centre of the Chamber of Commerce of the Grand-Duchy of Luxembourg was created in to provide an alternative to court rulings on disputes which often prove to be too long, expensive and unsuited to the technical and complex issues of the world of business.

Its role is to organise and monitor the good operation of arbitration procedures before the Arbitration Centre, according to the conditions laid down in the Arbitration Rules of the Centre. Since its creation the Arbitration Centre has been constantly enriched by the experience acquired in the cases submitted to it.