BUSINESS LAW (İŞLETME HUKUKU) - (İNGİLİZCE) Dersi Mediation and International Commercial Arbitration soru detayı:

CEVAP:

Neutrality: Parties to an international contract usually come from different countries and so the national court of one party will be a foreign court for the other party. The court will have its own formalities, and its own rules and procedures developed to deal with domestic matters, not for international disputes. The court will also have its own language. On the other hand, a reference to arbitration means that the dispute will be determined in a neutral place of arbitration, rather than on the home ground of one party or the other. Each party will be given an opportunity to participate in the selection of the arbitrators who will be independent and impartial. - Expert arbitrators: Particularly for disputes that are relevant with special sectors, parties are able to select arbitrators with expert knowledge on that sector. - Flexibility: Provided that the parties are treated fairly, an arbitral proceeding may be tailored to meet the specific requirements of the dispute, rather than conducted in accordance with fixed national procedural law rules usually unfamiliar to one or both of the parties. - Confidentiality: The privacy of arbitral proceedings and the confidentiality that surrounds the process are a powerful attraction to companies and institutions that may become involved in legal proceedings. There may be trade secrets or competitive practices to protect, or there may be a reluctance to have details of a commercial dispute being the subject of adverse publicity. - Expedition: Arbitration is quicker than national courts, especially those with a heavy burden of workload. - Enforcement: At the end of the arbitration, the arbitral tribunal will issue its decision in the form of an award. The outcome of the arbitral process will be a binding decision and not just a recommendation that the parties are free to accept or reject as they please. In its international enforceability, an award also differs from the court judgment, since the international treaties that govern the enforcement of an arbitral award have much greater international acceptance than do treaties for the reciprocal enforcement of judgments.