Arbitration hearings are for many, a quicker, more cost-effective and less confrontational approach than standard litigation for the resolution of commercial and business disputes. Often, important business ties can be preserved after arbitrations and opposing parties are able to work together towards the final decision, which is made by an arbitrator or a panel of arbitrators who are specialists in the subject matter of the case, employed by the parties as a neutral body. Within 30 days, the chief arbitrator will decide upon an arbitration award: a legal document enforeable in a court.
There are two different forms of arbitration: binding and non-binding. In binding arbitration, parties must agree to abide by the decision of the arbitrator. While in non-binding arbitration, the process is used to help establish an advisory opinion - which the opposing parties may or may not abide by. Arbitrations follow the evidential and procedural regularity of court proceedings but take place out of court, in a less formal and less rigorous setting than litigation.
Why not read our blog article on arbitration interpreters?
6. Arbitration in France
Arbitration and Mediation Centre of Paris (CMAP), Paris, France
Centre Européen d’Arbitrage (European Centre of Arbitration) (CEA), Strasbourg, France
Centre for International Mediation and Arbitration (CIMA), Paris, France
European Centre for Financial Dispute Resolution (EUROARBITRATION)
Association Française d’Arbitrage (AFA), Paris, France
International Chamber of Commerce (ICC), Paris, France
Arab Association for International Arbitration (AAIA), Paris, France
Maritime Arbitral Chamber of Paris, Paris, France