Consider International Arbitration to Resolve International Investment Disputes
International arbitration is quite much similar to the litigation process with the difference that it takes place before a private adjudicator called arbitrators. Indeed, it is a complex and evolving field of law and it requires the paramount knowledge for legal counsel. Needless to say, it has become quite strong and widely accepted in the field of trade and commerce. Statistically, it has been proved that 90% of all the international contracts are governed by arbitration clause. It is being considered a spur for the cross border commerce and investment.
The arbitration procedure is solely determined by the agreement of the parties. It includes the process of bringing a business dispute before a disinterested third party for resolution. The arbitrator hears the evidence brought by the both sides and then takes a decision.
International arbitration offers various benefits that include -
· Parties can choose their decision maker by themselves
· Avoid risks and the expense of appearing in the court
· Allows the parties to agree on appropriate procedures
A great advantage of international commercial arbitration is confidentiality and privacy. Generally, the court proceedings are in public that leads to the unwelcome attention getting attracted to the case by the competitors. By contrast, the arbitration process is private and confidential and this confidentiality is preserved in arbitral proceedings. Thus, there is need for the seasoned counsel who will have a deep understanding of the arbitral process. The specialist international arbitration lawyers need to advice on every step of the resolution process that includes commencement and conduct of proceedings. Thus, the lawyers need to have a great experience and expertise in the relevant arbitration institution.
In investment arbitration firm, the international investors get the protection and chance to get the compensation amount from host states in case of any disputes. The investors get the compensation that will be dependent on the type of investment and location. The foreign investors will get the protection legally as there are number of investment treaties available today. They also provide protection in case of any dispute or interference by host states.