Arbitration and Alternative Disputes Resolutions

If we would like to take a quick look at the meaning of the term arbitration, and it is relation with what so called the Alternative Disputed Resolutions (ADR), we can say that arbitration is one of those tools or instruments used to adjudicate between individuals or institutions or companies or countries, whether the existing disputes are of civil or commercial nature, or contractual or non-contractual.

This tool seeks to depart from the framework used in ordinary litigations known to people, by relying on the choices of the parties to the dispute themselves and their will, such as choosing the venue of the hearings or the law applicable to the dispute or the arbitral tribunal to adjudicate, rather than relying on the Judicial system in the country in which they live or reside.

Alternative Disputes Resolutions are all the tools that parties to a dispute can resort to for the settlement, away from the courts and the known judicial procedures, these alternative resolutions, in addition to arbitration, are the negotiation, conciliation and mediation.......... Read More