Arbitration is an appealing alternative to regular courts. Arbitrators are experts and arbitrational awards are recognized in more countries.
Arbitration is an alternative to court proceedings. It is often applied in (international) business. Disputes are presented to one or three independent persons having expertise in the area of the dispute.
You can choose to include an arbitration clause in an agreement. The main advantages of arbitration are the following:
To execute an arbitration award in the Netherlands, you must first obtain leave from the judge in charge of preliminary relief proceedings. The judge will refuse the leave only in very exceptional cases.
Abroad, an arbitration award is often easier to enforce than a court decision. Arbitration awards are recognized in the 156 countries that signed the New York Convention of 1958.
Court decisions are recognized in a much smaller number of countries. If a decision is not recognized, the case may have to be heard all over again to obtain a decision that can be enforced.
Would you like to learn more about how to arrange for arbitration in a contract? Or are you involved in a legal dispute and looking for legal assistance? Please contact:
Arbitration is a less well-known but effective way of dispute resolution. In the following we will therefore list 7 things you should know about arbitration.
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