January 18, 2012
Choosing between arbitration and litigation is rarely an easy decision for business, and the choice just got harder due to recent changes to the International Chamber of Commerce’s rules of arbitration.
The chamber established the International Court of Arbitration (ICA) in 1923. Since then, ICA has grown to become one of the most popular forums for the resolution of conflicts over international business agreements – and the most popular for the largest and most complex of these disputes. In 2010, parties from 140 companies filed some 793 requests for arbitration with ICA.
But conventional courts are also seeking to improve. Various Canadian provinces and courts have changed their rules of civil procedure to boost efficiency.
"There’s a healthy competition for cases between courts and arbitrators," says John Terry.
Read the full article here.