MEĐUNARODNA TRGOVINSKA ARBITRAŽA

Jovičić, Katarina (2008) MEĐUNARODNA TRGOVINSKA ARBITRAŽA. Strani pravni život (3). pp. 99-121. ISSN 0039-2138

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Abstract

International commercial arbitration is ever more in the spotlight due to its growing popularity. Parties decide more often to entrust their dispute to arbitration comprising of independent arbitrators nominated by the parties themselves, within the procedure and by rules freely chosen by them. By selecting international commercial arbitration, a special and complete mechanism of solving a dispute, one avoids uncertainties that may arise in international court procedures, the most inconvenient of which are the following: long duration of the procedure, possible parallel procedures in different states, conflict of law issues, etc. The most common advantage of arbitration in comparison to court procedure is the fact that, due to wide accepted international sources of law, the international commercial arbitration awards are often more easily enforced abroad then national court verdicts.Having in mind that we are dealing with international institutions that apply international rules with great success, which provide fair, neutral, professional and efficient way of solving complicate international cases, scientific focus on arbitrations is of great importance for legal theory and practice. Key words: International commercial arbitration; mechanism for resolving disputes; international rules

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