Arbitration has slowly but surely established itself as a preferred dispute resolution mechanism. No commercial contract is considered complete without an arbitration agreement incorporated. Infact, an arbitration agreement referring disputes to a reputed independent arbitration institution is now considered as a ‘boiler-plate’ clause in most agreements. As contracts become significantly more detailed and comprehensive, the fact remains that there is no one-stop shop for arbitration. Horror stories abound but there remains ways and means to ensure that arbitration is completed in an efficient and cost-sensitive manner.
While most of us are now familiar with basic arbitration concepts, this session touches upon more complex issues dealing with issues faced in each arbitration such as evidence, discovery and damages. Calculation of damages remains a potential minefield. This session will touch upon options that are available. Additionally, ad-hoc arbitration is slowly but surely being replaced by institutional arbitration in most large value contracts. We dissect the reasons for this evolution.