When drafting the terms of a dispute resolution clause, parties to cross-border transactions are well advised to select international arbitration. International arbitration offers several advantages over foreign litigation, including the right to a single, neutral forum and to receive an award that is readily enforceable in most any jurisdiction.
Winston & Strawn's Pocket Guide to International Arbitration summarizes key principles of international commercial arbitration. This guide is designed to describe the basics of international commercial arbitration for those who do not specialize in this area. In particular, this guide describes: (i) the reasons for selecting international arbitration over foreign litigation; (ii) a checklist for drafting an effective arbitration clause; (iii) how a typical arbitration proceeding unfolds; (iv) challenges and enforcement of awards; and (v) the costs of arbitration.
For those parties that may face disputes against foreign governments, this 2021 guide also describes the rights such parties may have under investment treaties, including the right to bring foreign governments to arbitration instead of being confined to foreign courts.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.