Arbitration is a form of extrajudicial dispute resolution that parties can use to achieve speedy and high-quality results in settling disputes. Arbitration constitutes a much broader and, in international maritime and trade matters, more efficient dispute resolution system than the public courts system. The proceedings are furthermore administered under confidentiality, unless parties would agree otherwise.
Arbitral awards are enforceable in more than 150 jurisdictions under the New York Convention (1958), which includes countries that are not a party to bilateral judicial enforcement treaties. In the light of political developments worldwide and in particular, in Europe, it is noticeable that an arbitral award will be enforceable in the United Kingdom even since the United Kingdom is no longer an EU member.
By choosing UNUM arbitration, you are opting for qualitative and speedy dispute resolution at a reasonable cost.
UNUM arbitration offers parties:
- the certainty of modern and flexible arbitration rules
- expert arbitrators
- freedom in choosing arbitrators
- freedom in choice of law
- the possibility to conduct arbitration proceedings in English
- support via the website to distribute documents electronically,
– with guaranteed security,
– cost savings, and
– conveniently and quickly
- clarity about costs
- guarantee of speedy proceedings, without compromising quality
- certainty that a ruling will only be published if permission has been given for that purpose.
Mediation and arbitration might be considered complementary procedures. If parties cannot obtain an agreement on settlement of their dispute by mediation, they can proceed to arbitration. Arbitration proceedings will result in an arbitral award, which is legally binding.
To ensure neutrality and impartiality the mediation procedure and arbitration proceedings are concluded under separate supervision.