THE ARBITRATION CLAUSE IN INTERNATIONAL CONTRACTS
IN CONTRACTS WHERE THE PARTIES ARE DOMICILED IN DIFFERENT COUNTRIES, IT IS ESSENTIAL TO SUBMIT ANY DISPUTES THAT MAY ARISE TO ARBITRATION.
Given the cost of international arbitration, it is advisable to agree it in contracts of a relevant amount. It is common that in the negotiation of these contracts this aspect of the contract is not given the importance it deserves.
The clause of the agreement that submits eventual conflicts to arbitration (arbitration clause) is a critical aspect of the contract since this clause regulates, among other matters:
- Submitting the contract to arbitration
- The number of arbitrators and their characteristics
- The type of arbitrator required
- The place of dispute resolution.
- The language in which the proceedings are conducted
- Applicable substantive law
No acordar una clásula compromisoria adecuada puede traer como consecuencia que ante un conflicto la parte más débil quede en una verdadera indefensión.
For more information contact
Gustavo Cuevas
Founding Partner
