What is Arbitration?
Arbitration is an alternative dispute resolution method which enables parties to resolve their dispute with a final and binding award without recoursing to state courts.
Which cases can be brought before arbitration?
Many disputes of commercial and civil nature can be brought before the arbitral tribunals. Various disputes and matters including the ones related to corporate law and contracts law are arbitrable.
Who can apply to arbitration?
Any real or legal person can apply to arbitration.
How is an arbitral tribunal established?
Parties of the dispute choose the members of arbitral tribunal. Arbitral tribunals are generally composed of one or three arbitrators.
If the tribunal will be composed of one arbitrator, parties may agree on the single arbitrator. In case of failure to agree on single arbitrator, ADISTAM will appoint the arbitrator.
If the tribunal will be composed of three arbitrators, claimant choses one arbitrator and respondent choses one arbitrator. Two arbitrators chosen by parties will designate the third arbitrator.
Who will be the arbitrators?
Professionals from the sectors and qualified professors are generally chosen as arbitrators. Thus, the decision will be made by the arbitrators who know the rules and dynamics of each dispute.