Your dispute resolution strategy does not start only once a dispute arises. As part of the in-house legal team, you are the guardian of your company’s legal interests from contract negotiations to enforcement of arbitral awards. Be the internal asset and business partner you’re meant to be!
Arbitration has many benefits:
- Parties’ autonomy and procedural flexibility: Some say it is an “à la carte” dispute resolution mechanism (choose the seat, the law, the rules, the schedule, etc), but also avoids the nitty-gritty of national procedures and domestic courts. Procedure streamlined!
- Neutrality of the forum: With globalization, many different companies from different jurisdictions may be involved in a single project. Which legal system and jurisdiction should you refer your potential disputes to? How will you agree with your partners? How about fear of corruption? Arbitration ensures that you don’t have to worry about any of that.
- Specialized “judges”: Parties choose their arbitrators, which allows them to select someone with technical expertise, a cultural understanding of dealings in a specific region, language skills, and so much more.
- Time-efficiency and cost-management: Some countries have backed up court logs that delay procedures, sometimes for decades. Legal costs can therefore run high. Arbitration is more efficient and awards tend to be final, avoiding baseless appeals.
- Enforceability: Awards also tend to be more readily enforceable around the world, thanks to Treaties and Conventions. Arbitration therefore ensures you have all the chances to recuperate your company’s damages.
That being said, there is no denying arbitration can be costly, requiring a strong strategy from the beginning. At Jus Mundi, we are aware that not all legal departments have a dedicated arbitration or disputes team. To make your life extra easy, Jus Mundi is publishing a series of practical Arbitration Know-How articles, specifically intended for in-house counsel. In the past, we have also published a Report on managing arbitrations in-house, with advice from external and in-house counsel, which complements this practical series of articles.
This convenient and straightforward checklist is the first of our Arbitration Know-How series. Download it now and learn:
- how to mitigate legal risks, including how to avoid arbitration whenever possible, and
- how to deal, step-by-step, with every stage of arbitration, including pro-tips to build strategies to win arbitration cases.
The Ultimate Arbitration Checklist: a Practical Guide for In-House Counsel
Other articles of our Arbitration Know-How series will cover:
- Arbitration clause drafting 101, so you can confidently draft your dispute resolution clause and never use a claim-generating clause again;
- Arbitrators’ selection tips, so you can be more autonomous in making this crucial decision and save on legal costs;
- Prompting compliance with awards without having to enforce them, so you can recuperate your damages effectively and swiftly.
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About the author
Clémence Prévot is a former arbitration lawyer, qualified in NY and Paris, who now manages Jus Mundi‘s Blog, content collaborations, newsletters, and our notorious Industry Insights Reports. She brings practical insights to the content created at Jus Mundi, thanks to her all-around experience in arbitration. She worked in law firms but also in an arbitral institution, as a mediator, and with third-party funders, in different jurisdictions.
Reach out to her with feedback, content ideas, and suggestions! (She doesn’t bill for her time anymore, so don’t hesitate to get in touch!)