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The tremendous expansion of international trade and investment in recent years has meant that commercial relationships between international businesses, investors and states are rapidly increasing and becoming more complex. Inevitably some of those relationships will break down; parties need to consider the most appropriate means of resolving disputes. Arbitration is a process of formal dispute resolution conducted by one or more impartial people that results in a final and binding decision. It has become increasingly popular as a means of resolving cross-border commercial disputes all over the world.
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international commercial arbitrationan introduction
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International arbitration
What it means for businessThe tremendous expansion of internationaltrade and investment in recent years has meantthat commercial relationships betweeninternational businesses, investors and states arerapidly increasing and becoming more complex.Inevitably some of those relationships will breakdown; parties need to consider the mostappropriate means of resolving disputes.
Arbitration is a process of formal disputeresolution conducted by one or more impartialpeople that results in a final and bindingdecision. It has become increasingly popular asa means of resolving cross-border commercialdisputes all over the world.
Why choose arbitration?There are plenty of reasons why you mightconsider arbitration as the most appropriate wayto resolve your international commercial dispute.
● Time and CostArbitration can be faster and cheaper thangoing through the courts. This is especially sobecause the arbitral decision is final, whichexcludes the possibility of further time andcost involved in potential appeals.
● FlexibilityArbitration Rules tend to be shorter, simpler,less formal and more flexible than those forlitigation. You and your counterparty willhave more freedom to agree on theprocedures involved, covering issues such asthe number and choice of arbitrators, place ofarbitration hearings and meetings, the mostappropriate governing law, language, timelimits and arbitrators' powers.
● ConfidentialityInternational commercial arbitration is aprivate process and the ability to keep thedispute confidential is a major advantage.There is no public hearing and no publicrecord. This will be particularly important toyou if your dispute involves commerciallysensitive matters.
● EnforceabilityArbitral awards are final, binding and directlyenforceable, both nationally andinternationally.
● NeutralityArbitration provides a neutral process, makingit particularly advantageous for parties fromdifferent countries.
● Continuing relationshipsIf there is a continuing business relationshipbetween the parties in dispute, arbitrationmay be more conducive to its long termsuccess since its process is essentially lessformal and less adversarial than litigation inthe Courts.
Getting the right adviceDespite these advantages, the arbitrationprocess needs careful guidance; the particularsof your dispute may be complex and need to befully understood and accommodated. Achievingthe right outcome in arbitration depends a greatdeal on who you choose to advise and representyou. You need people who are knowledgeableabout dispute resolution, quick to pick up theissues of your case, experienced in the details ofinternational arbitration proceedings andfamiliar with the relevant legal systems.
We offer all these and more.
Benjamin Franklin.
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How can we help you?We have a team of specialist arbitrationlawyers who have very considerableexperience in dealing with complex,high value commercial arbitrations. Werepresent a wide range of clientsworldwide, ranging from Governmentsand state-owned entities tomultinationals, plcs, private companiesand other entities.
Our experience and expertise cover theleading institutional arbitration rules aswell as ad-hoc arbitration and we offeryou our highly developedunderstanding of the culturaldifferences and subtleties of approachinvolved in working with clients from arange of different jurisdictions.
At the start of businessMuch of the power of an arbitraltribunal derives from the contractbetween two parties, so it is veryimportant to get the arbitral provisionsright from the beginning. At the outsetof any international transaction, we cangive you detailed advice and guidanceas to the most appropriate form ofarbitral institution, the governing law ofthe contract and the place of thepotential arbitration.
These kind of decisions made at anearly stage of contract negotiations canbe critical if a dispute arises later.
If you are involved in disputeOur objective is very simple – to obtainthe best possible results for you in themost timely and cost effective mannerwhilst providing a first class service.
Sometimes negotiation is the best wayto achieve those objectives. Failingthat, we proceed to arbitration.
We provide a range of servicesincluding:
● Representing you in negotiationsprior to the commencement ofarbitration
● Choosing the right party appointedarbitrator
● Advising on the strengths andweaknesses of the case anddeveloping your case strategy
● Advising you on documentation(including a disclosure strategywhich is imperative if you are toderive the maximum benefit fromthe flexibility in document disclosurethat international arbitrationprovides)
● Making any necessary applicationsto court in support of the arbitration,for example for freezing injunctions
● Representing you before arbitraltribunals.
At the end of the processFollowing the conclusion of thearbitration process, we are also highlyexperienced in the recognition andenforcement of arbitral awardsglobally.
Recent experience includes:● Acting for a Chilean Corporation in a
multi-million dollar dispute with aSwiss Corporation, under Chilean law(LCIA)
● Multi-million dollar claim by the thirdlargest private corporation in Polandagainst a major Chinese shippingcompany in relation to the transportof maize which deterioratedsignificantly during transit andbecame unusable
● Acting for US company defending aUS $200m LCIA arbitration claim fordamages brought by an Africancompany relating to a drop in theprice of metals
● Claim for approximately US $150min relation to parties in the SovietRepublic and the Baltics in respect ofaccounting and intellectual propertyrights
● Advising a state-owned oilcorporation on an LMAA arbitrationconcerning a claim for demurrageand a cross-claim for oil whichremained on board after delivery
● Arbitration under the FootballAssociation Arbitration Rules.
No.1 London BridgeLondon SE1 9BGDX 144370 Southwark 4
Tel: +44 (0)20 3755 6000Fax: +44 (0)20 3650 7000
www.howardkennedy.com
International Arbitration Team
Craig EmdenPartner: Dispute ResolutionT: +44 (0)20 3755 5442E: [email protected]
Steven MorrisPartner: Dispute ResolutionT: +44 (0)20 3755 5622E: [email protected]
James WingfieldSenior Associate: Dispute ResolutionT: +44 (0)20 3755 5778E: [email protected]
Mark Stephens CBEPartner: Dispute ResolutionT: +44 (0)20 3755 5725E: [email protected]
Tim BignellPartner: Dispute ResolutionT: +44 (0)20 3755 5383E: [email protected]
Sue ThackerayPartner: Commercial LitigationT: +44 (0)20 3755 5743E: [email protected]
