Arbitration and Binding Advice
Litigating in a court of law is not always the best response to a dispute. There may be good reasons to choose arbitration or binding advice, especially if you conduct business internationally. Would you like to know what form of dispute resolution best suits your business? Expert and to-the-point advice can be found at Buren.
What Are the Benefits of Arbitration and Binding Advice?
Hard on substance, soft on the relationship? If so, arbitration or binding advice may be something for you. These forms of dispute resolution tend to be less confrontational than court proceedings. At the same time, they add to the quality of the substantive review because the arbitrator or binding advisor is often an expert on the subject and comes from the sector involved. These forms of dispute resolution are ideal for conflicts that are technical in nature, such as in the building industry or raw-material trade.
International Effect of Arbitral Awards
For many international agreements, arbitration is the principal method of dispute resolution. Orders of an ordinary court are not enforceable outside the Netherlands, in principle, unless the Netherlands has a treaty with the relevant state that provides for recognition of Dutch court orders. Few such treaties exist outside the European Economic Area. Most industrialized countries are party to the 1958 New York Convention, which provides for the mutual recognition and enforcement of arbitral awards handed down in treaty countries.