New York City, NY asked in International Law for New York

Q: Which procedural rules are most commonly used in the arbitration of international business disputes?

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1 Lawyer Answer
Richard Sternberg
Richard Sternberg
Answered
  • International Law Lawyer
  • Potomac, MD

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

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