What is arbitration?
Arbitration is an alternative dispute resolution method . The parties agree to submit their disagreement to an arbitral tribunal composed of one to three people. On the basis of the request of the parties, the tribunal will render a decision, an arbitral award, which is obligatory. This award can be enforced if needed.
Why turn to Arbitration?
The quickness of the procedure
An arbitration procedure lfead by CEPANI lasts in average 8 months to two years. This can be explained by the fact that the arbitral award is final and not subject to appeal, by the simplicity of the proceedings and by the availability and expertise of the arbitrators.
Contrary to the proceedings lead in ordinary courts, arbitration is strictly confidential. The arbitrators shall show the utmost discretion; when the parties are heard the hearings are not public and the arbitral award is only published with the permission of the parties.
CEPANI’s arbitration costs are determined by a scale based on the amount in dispute. Therefore the parties are able to know in advance the cost of the arbitration. The lack of appeal and the simplicity of the procedure also enables to save some costs.
The procedure generally takes place in a trustworthy atmosphere which enables to save the parties relations.
Development of the procedure
Download a schematic overview of the arbitral procedure.