The Benefits Of Arbitration For Resolving Cross-Border Commercial Disputes
“The parties are free to choose where the arbitration takes place and what law and institutional rules will govern the arbitration and procedure. Arbitration also offers greater procedural flexibility than litigation. Parties may agree on time limits, confidentiality, location of oral hearings, the language of documents and hearings, and even whether the tribunal will make a decision according to law or justice and fairness. For example, the parties may agree to conduct the arbitration with a limited time for the presentation of oral evidence, or even with no oral evidence at all.”