As an attorney practicing in an international city like Miami, I see an increasing amount of international arbitration proceedings taking place here. The most frequent question I get from clients facing such a proceeding is “what exactly is international arbitration?”
Too many times it seems, a contracting party will sign an agreement and overlook the arbitration provision. While it may seem complex and frightening to the uninitiated, it’s really a refreshingly straightforward and streamlined process to resolve international disputes.
I mention this because the folks over at the International Arbitration blog, have a great post on all you ever wanted to know about international arbitration—conveniently all on one page! I tried to come-up with my own creative title but I think theirs says it best.
Clients and even lawyers unfamiliar with the arbitration process should take a look at the paper “International Arbitration” prepared by Ms Kathryn Helne Nickerson under auspices of OCC-IC in Washington D.C.
The paper provides basic information on such issues as description of arbitration, advantages of arbitration, kinds of disputes that can be arbitrated, the agreement to arbitrate, comparing ad hoc to institutional arbitration, international arbitration rules and international and regional arbitration institutions.
The paper also offers useful guidance to lawyers in drafting an arbitration clause and presents several examples of model clauses.
No discussion of arbitration would be complete without reference to the enforcement of arbitral awards. The paper touches on such related issues as court enforcement of arbitral awards, conventions for the enforcement of arbitral awards and grounds for refusal to enforce arbitral awards.
I urge anyone wanting to learn the basics of international arbitration to take a look at this quick and easy guide.
What do you think?