INTERNATIONAL COMMERCIAL DISPUTE RESOLUTION

Litigation

Taking a case to court, where a judge and or jury will decide the outcome. Process follows: filing a law suit; arguments on legal motions; phase of discovery; formal exchange of information; courtroom trial; appeal.

Advantages:

Disadvantages:

Right to appeal

Discovery

Precedent setting

Compliance with judgement enforceable

Lengthy

Can be appealed

Expensive

No privacy to matter

Alternative dispute resolution

Mediation

Arbitration

A voluntary, nonbinding conciliation process

A more formalised process resulting in a binding award.

Disadvantages:

Advantages:

No court intervention

Reach a resolution quicker

Low cost

Privacy

Not formal

No guarantee of outcome

Settlement not binding

Advantages:

Disadvantages:

Cost effective

Procedural advantages

Limited right of appeal

Arbitrator neutral 3rd party

Discovery limited

Limited rights to approach court

Outcome binding