International Commercial Arbitration by Jeremy Schulman is a settlement possibility that should be considered
Arbitration has proven to be the most important international commercial dispute resolution system and the most effective. But what exactly is international arbitration? It is the extrajudicial legal technique by which the parties to a contract submit, freely and peacefully to a third party, the resolution of any present or future dispute arising from the agreement, committing to abide by the award with the value of res judicata and renouncing to attend to court.
Arbitration has become the standard method of resolving disputes in certain industry areas, such as commodities, construction, insurance, and shipping, where the technical expertise of arbitrators is particularly valued.
Jeremy Schulman indicates that the parties should consider whether or not to consider international arbitration each time they enter into a contract. However, he also comments that arbitration is very important when the parties or their assets are in different jurisdictions because the disputes can give rise to complex technical problems.
A highly relevant professional
Arbitrators in commercial disputes have no inherent power or jurisdiction. Its authority arises from the contract of the parties, although once selected by the parties, arbitration is supported by statutes and treaties.
The International Commercial Arbitration of Jeremy Schulman is a possibility of a resolution that must be considered in advance to include it within the commercial contract if all parties agree. Although, it must be clear that this method has not had all its advantages.
When the contracts where the other agreements are embodied are not well planned, it is always possible for disagreements to arise. It is there where the services of Jeremy Schulman take on great relevance.
The ideal method for conflict resolution
International Commercial Arbitration is the procedure for resolving conflicts and commercial disputes between parties from different countries and through the services of specialist arbitrators such as Jeremy Schulman, to whom they voluntarily decide to go instead of resolving their pending issues through the courts.
In recent years, the arbitration process has been increasingly adopted, and many have recognized its importance as the primary means of resolving complex disputes at the transnational level.