International Arbitration has been one of the preferred means for dispute resolution in the past centuries.
Nowadays when all the markets are globalized, foreign companies that get involved on international disputes don’t find very attractive to solve their dispute under a jurisdiction with a different legal system than the system in which the foreign company is based.
Attending all these concerns, the international arbitration tries to give the parties involved in the dispute these kinds of solutions:
- To choose the applicable law of their contracts, saving time and costs.
- To choose the language in which the parties want to litigate, granting more security to all of the parties involved.
- To choose where they want to litigate.
- Experienced arbitrators, which can be selected for its familiarity with some areas, or legal structures and their understanding of international law as an integral system not as a unitary piece.
- Confidentiality of the manners treated in the dispute, granting the parties a greater privacy and confidentiality than the public courts.
The international arbitration which can be considered as a global institution due to the support that has on international law, mostly granted by the New York convention which was signed in 1958 nowadays has more than 156 contracting parties around the world.
The international arbitration has multiple applications nowadays, it is used to solve investment disputes, commercial disputes, international tax or sport disputes. This is why it is one of the favorite means for international companies to solve its disputes, due to its characteristics such as the experience of the arbitrators and international enforceability of the arbitration awards granted by the New York Convention and the UNCITRAL Model Law.
Central America has a strong participation of foreign investment and unfortunately sometimes there are violations of investment treaties or a breach of investment agreements. Under this circumstances, CENTRAL LAW has a talented team of lawyers that can support you at every stage of an arbitration process.
For more information contact us at info@central-law.com
Juan Pablo Carrasco De Groote
Partner
CENTRAL LAW
