International arbitration: solution without borders

October 6th, 2015News0 comments

In Evolutiza Lawyers and Tax Advisors, thanks to our international position we know in depth the complex thing that can be dispute abroad, for it in this occasion we will speak on the International Arbitration.

We can consider nowadays the international arbitration like a measure of solution of conflicts most used in the world, and in fact in some international contract between companies we will meet the clause of submission to the international arbitration.

It joins, therefore, as an alternative to disputing, being considered to be a solution simpler and more accessible than to fight abroad simultaneously that more economic.

The international arbitration turns out to be regulated by the Agreement of New York, which makes possible the adjustment of this figure to all the juridical systems of the different countries that have ratified the agreement, inside which one finds Spain, in addition, the above mentioned agreement is the person in charge of the recognition and execution of the arbitral award.

Which are the advantages that the arbitration has opposite to the remaining modalities of solution of conflicts:

• His decisions are definitive and binding
• The awards have an international recognition
• Neutrality, rapidity or confidentiality
• Minor economic cost

However, despite these advantages, we must indicate that the same applies shall be reported in the contract signed between the parties. This introduction occurs through the inclusion in the contract a clause whereby both parties expressed their will and agreement in case of conflict abide by international arbitration. Or, once the conflict began, for the parties to take the decision to go to arbitration.

The initiation and development of arbitration is very similar to a litigation, beginning the same by filing a demand for arbitration before the Chamber established. However it should be noted that the Chambers have their own regulations and its own rules and submission leading to these compliance with a set of rules. In addition, by attending she must pay a fee which depend on the characteristics of the dispute, the parties involved, etc.

The most important in this area are the International Arbitration Chamber of Paris; Court of Arbitration in London; Swiss Rules of International Arbitration of the Swiss Chambers of Commerce; Stockholm Chamber of Commerce; International Centre for Dispute Resolution.

In Evolutiza Lawyers & Tax Advisors, we have a group of specialists lawyers. Don’t hesitate to contact us, we can help you!