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International Arbitration
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1958 - The "New York" Convention |
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Although the Convention, adopted by diplomatic conference on 10 June 1958, was prepared by the United Nations prior to the establishment of UNCITRAL, promotion of the Convention is an integral part of the Commission`s programme of work. The Convention is widely recognized as a foundation instrument of international arbitration and requires courts of contracting States to give effect to an agreement to arbitrate when seized of an action in a matter covered by an arbitration agreement and also to recognize and enforce awards made in other States, subject to specific limited exceptions. The Convention entered into force on 7 June 1959.
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International Arbitration |
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Alternative Dispute Resolution or ADR is becoming more popular with both small and large businesses around the world as the logical choice to settle disputes between themselves and their business partners.
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More Details
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Co-Operation Across the Globe |
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Arbitration for businesses is in general the most logical of choices to settle disputes and in particular for those companies doing business in other countries. The reasons are quite simple, a. it is fast and efficient, b. as opposed to going to court there is very little waiting to set a date for the procedure to take place, c. you are in an informal but very professional setting, and d. the resources required to settle the dispute are known ahead of time for the most part as opposed to going to court which not only takes years to get a judgment but the amount of money spent can never be calculated.
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More Details
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עברית
English