Benefits of arbitration, as opposed to domestic courts
- Worldwide enforceability of arbitral awards
- Free choice of arbitrators with legal expertise and market knowledge
- Free choice of the language of the arbitral procedure
- Free choice of the neutral seat of procedure and place of hearings
- Freedom to create a tailor-made procedure
- Confidentiality of the procedure
- No second instances or appeals
- Exhaustive statutory list of grounds for setting aside arbitral awards
- Greater opportunities for an amicable settlement
- Greater chances for the preservation of the parties' business relationship
- Availability of tried and tested institutional arbitration rules and model arbitration clauses