Who can benefit?

You don’t have to be an ICC member to use ICC arbitration. Arbitration agreements are binding and the awards are enforceable in most of the world’s trading nations particularly due to their accession to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards. Unlike litigation, arbitration is flexible. The parties to a dispute are entitled to decide what form arbitration should take, even down to the language used in the proceedings.

Under ICC Rules, the parties can choose the arbitrators, the place of arbitration and which rules of law should apply. They can even indicate a target date for completing the arbitration and estimate approximate costs in advance in full confidence that the Court will exercise control over the choice of the arbitrators, over the procedure, over the costs and over the award.

When negotiating a contract or faced with a business dispute, especially if it involves a partner in another country, you and your lawyer should check out the range of services ICC offers. Contact ICC directly or visit the present Court’s website where you can  find ICC’s Rules of Arbitration and standard arbitration clause (both available in many languages), a cost calculator, an index of published awards, a link to the 1958 New York Convention, and much more.