Abstract

One of the major perceived disadvantages of litigation as the potential mode of dispute resolution in international commercial transactions context is the prospect of ending up in national courts of the defendant state. There is a high risk that foreign state courts may have inherent prejudice towards alien businesses. For that reason, arbitration is now widely recognized as the most favored mechanism for resolving disputes arising out of international commercial transactions - it is usually seen as a more neutral and independent venue and is believed to mitigate parties' distrust for ...