The Role of Arbitration and Mediation in Resolving International Trade Disputes

Abstract

The mechanism of using arbitration and mediation in the settlement of international trade disputes. They give information on arbitration and mediation, the rules of enforcing them in the international level, and the efficiency of the mechanisms above the procedure of litigation. It deals with the international aspect and does not explore the specifics of national legislation regarding arbitration and mediation arrangements. It also introduces modern changes adding to the efficiency and applicability of arbitration and mediation in the sphere of inter entrepreneurships trade. For example, the new online dispute resolution procedures envisaged by the EU-ICC and the ICC court rules are a more convenient and faster option than a trial that is only suitable for legal matters that are not very complicated and where the amount at stake is small. While these measures are directed towards the enhancement of the existing model for the resolution of disputes through litigation, they may result in the overcrowding of the scene. Thus, the present work aims to promote the systems of arbitration and mediation as traditional and effective methods that should be used at the international and non-equivalent levels for enterprises and judicial officers’ benefits.