What is the international arbitration process?

What is the international arbitration process?

The international arbitration process is a method of resolving disputes between parties from different countries outside of court.

How does it differ from litigation?

Unlike litigation, which occurs in public courts, arbitration is usually private and can be more flexible in terms of procedures.

What are the steps involved in this process?

The main steps include the agreement to arbitrate, selection of arbitrators, hearings, and the issuance of an award.

Is the arbitration award enforceable?

Yes, arbitration awards are generally enforceable under the New York Convention, which many countries have adopted.