The choice between arbitration and judiciary in international trade and investment (original) (raw)

In this contemporary globalization, the international arena is dominated by a tendency to arbitrate all disputes related to international trade and investment, where the concerned parties agree to entrust the current or future disputes that may occur; to a private arbitrators of their choice, and who are recognized for their competence and expertise in this area to settle such disputes with binding arbitration provisions. It has helped to flourish and spread of the international commercial arbitration in the markets of trade and investment as a legal system for the rapid resolution of disputes and its preference increased over the national judiciary in various countries of the world today, for several considerations, including:-1/ The desire of practitioners of various international commercial activities and investment in resolving disputes arising out of their contractual or non-contractual relationships by a satisfactory solutions that are usually supportive to the reality of the niche in which they work. 2/ The desire of the contractual relationship parties (the litigants involved in a dispute) towards the arbitration proceedings to be conducted with least publicity and with greatest possible confidentiality, both in terms of holding meetings or in terms of limiting the persons involved, including the advisers, without giving the right to participate to the others wherever they wish, as well as to preserve the confidentiality of the expected arbitral award to be issued and not to be published for public, in order to maintain secrecy their transactions and works.