Q: Which procedural rules are most commonly used in the arbitration of international business disputes?
A:
The most common is probably UNCITRAL, but you are out of your mind if you believe you can obtain and enforce an award for any less than $50,000 to $200,000 in filing and legal fees. Unless your deal is worth tens or hundreds of millions or unless your trade partner is as inexperienced as you are, you can easily be bluffed into losing everything once you adopt UNCITRAL as your dispute resolution mechanism. The trick is to create jurisdiction someplace useful and get contract resolution there. Sometimes, that requires some subtlety in the negotiations, but that becomes a matter of "pay me now, or pay me (much more) later."
Richard S. Sternberg
Richard@MWLC.org
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
