No one agrees a contract believing it might result in a dispute, but they should always be entered into only when you have considered how a dispute is best resolved and that should include whether arbitration is the best option.
It is increasingly common for businesses to enter contracts with suppliers and customers which contain arbitration clauses. Where these exist businesses have the option to resolve any disputes through a binding private process distinct from the national court system, it is called arbitration.
There are many advantages to arbitration but the two most cited are privacy and flexibility.
- Privacy: It is never a preferred option to air your dirty laundry in public. When disputes arise between companies that are working together things can come out in the proceedings that are bad for a company’s public image or which release trade secrets into the market which erode your competitive advantage. Entering a procedure which is private and confidential to the companies and advisors, allows the gloves to come off but the milk to remain in the bottle.
- Flexibility: when entering a contract, it is never possible to know precisely where something is going to go wrong. However, it is possible to agree a mechanism in advance which allows you to deal with the problem in a flexible and productive way and to decide who will determine its resolution. How you choose to define the process can have a major effect on the costs of a dispute. The speed at which you resolve a conflict can have a major impact on whether this is a relationship ending event, or a speed bump, in your business relationship. Having a tailored approach to these corporate events is always preferable to entering a one size fits all Court Procedure. With arbitration you are in control. You are in the driving seat.
But like any tool if you do not know what you are doing it can be dangerous. Therefore, it is important to make sure that you are being guided by a team which is familiar with the arbitration mechanism and knows the manual inside out. Our experienced team can help you avoid the pitfalls and take advantage of the shortcuts ensuring you a quicker, better and more tailored outcome. With our expert assistance you will have the issue resolved in no time, and your focus back on doing what you do best.
Whatever the dispute, we will put a tailored strategy in place to help you achieve your outcomes. Contact us today to see how we can help you resolve your dispute. We look forward to hearing from you.
Want to know more?
Speak to Chris
We work across the complete spectrum of cases with disputes ranging from a single issue to complex cross border multi party arbitrations. We are experienced in getting you the outcome you deserve and, in doing so, are used to taking advantage of all the ancillary court options and procedures that can be used to give the arbitration process teeth including:
Subject Matter and Personal Jurisdiction Disputes
Freezing and Proprietary Injunctions
Letter of Rogatory Evidence Requests
Specific Disclosure Applications