international commercial arbitration an introduction
International arbitration Benjamin Franklin.
What it means for business
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Confidentiality International commercial arbitration is a private process and the ability to keep the dispute confidential is a major advantage. There is no public hearing and no public record. This will be particularly important to you if your dispute involves commercially sensitive matters.
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Enforceability Arbitral awards are final, binding and directly enforceable, both nationally and internationally.
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Neutrality Arbitration provides a neutral process, making it particularly advantageous for parties from different countries.
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Continuing relationships If there is a continuing business relationship between the parties in dispute, arbitration may be more conducive to its long term success since its process is essentially less formal and less adversarial than litigation in the Courts.
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.
Why choose arbitration? There are plenty of reasons why you might consider arbitration as the most appropriate way to resolve your international commercial dispute. ●
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Time and Cost Arbitration can be faster and cheaper than going through the courts. This is especially so because the arbitral decision is final, which excludes the possibility of further time and cost involved in potential appeals.
Getting the right advice
Flexibility Arbitration Rules tend to be shorter, simpler, less formal and more flexible than those for litigation. You and your counterparty will have more freedom to agree on the procedures involved, covering issues such as the number and choice of arbitrators, place of arbitration hearings and meetings, the most appropriate governing law, language, time limits and arbitrators' powers.
Despite these advantages, the arbitration process needs careful guidance; the particulars of your dispute may be complex and need to be fully understood and accommodated. Achieving the right outcome in arbitration depends a great deal on who you choose to advise and represent you. You need people who are knowledgeable about dispute resolution, quick to pick up the issues of your case, experienced in the details of international arbitration proceedings and familiar with the relevant legal systems. We offer all these and more.
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How can we help you? We have a team of specialist arbitration lawyers who have very considerable experience in dealing with complex, high value commercial arbitrations. We represent a wide range of clients worldwide, ranging from Governments and state-owned entities to multinationals, plcs, private companies and other entities. Our experience and expertise cover the leading institutional arbitration rules as well as ad-hoc arbitration and we offer you our highly developed understanding of the cultural differences and subtleties of approach involved in working with clients from a range of different jurisdictions.
Sometimes negotiation is the best way to achieve those objectives. Failing that, we proceed to arbitration.
These kind of decisions made at an early stage of contract negotiations can be critical if a dispute arises later.
If you are involved in dispute Our objective is very simple – to obtain the best possible results for you in the most timely and cost effective manner whilst providing a first class service.
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Acting for a Chilean Corporation in a multi-million dollar dispute with a Swiss Corporation, under Chilean law (LCIA)
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Multi-million dollar claim by the third largest private corporation in Poland against a major Chinese shipping company in relation to the transport of maize which deteriorated significantly during transit and became unusable
We provide a range of services including: ●
Representing you in negotiations prior to the commencement of arbitration
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Choosing the right party appointed arbitrator
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Advising on the strengths and weaknesses of the case and developing your case strategy
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Advising you on documentation (including a disclosure strategy which is imperative if you are to derive the maximum benefit from the flexibility in document disclosure that international arbitration provides)
Acting for US company defending a US $200m LCIA arbitration claim for damages brought by an African company relating to a drop in the price of metals
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Claim for approximately US $150m in relation to parties in the Soviet Republic and the Baltics in respect of accounting and intellectual property rights
Making any necessary applications to court in support of the arbitration, for example for freezing injunctions
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Advising a state-owned oil corporation on an LMAA arbitration concerning a claim for demurrage and a cross-claim for oil which remained on board after delivery
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Arbitration under the Football Association Arbitration Rules.
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At the start of business Much of the power of an arbitral tribunal derives from the contract between two parties, so it is very important to get the arbitral provisions right from the beginning. At the outset of any international transaction, we can give you detailed advice and guidance as to the most appropriate form of arbitral institution, the governing law of the contract and the place of the potential arbitration.
Recent experience includes:
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Representing you before arbitral tribunals.
At the end of the process Following the conclusion of the arbitration process, we are also highly experienced in the recognition and enforcement of arbitral awards globally.
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International Arbitration Team
Steven Morris Partner: Dispute Resolution T: +44 (0)20 3755 5622 E: steven.morris@howardkennedy.com
Craig Emden Partner: Dispute Resolution T: +44 (0)20 3755 5442 E: craig.emden@howardkennedy.com
Mark Stephens CBE Partner: Dispute Resolution T: +44 (0)20 3755 5725 E: mark.stephens@howardkennedy.com
Sue Thackeray Partner: Commercial Litigation T: +44 (0)20 3755 5743 E: sue.thackeray@howardkennedy.com
Tim Bignell Partner: Dispute Resolution T: +44 (0)20 3755 5383 E: tim.bignell@howardkennedy.com
James Wingfield Senior Associate: Dispute Resolution T: +44 (0)20 3755 5778 E: james.wingfield@howardkennedy.com
No.1 London Bridge London SE1 9BG DX 144370 Southwark 4 Tel: +44 (0)20 3755 6000 Fax: +44 (0)20 3650 7000 www.howardkennedy.com