International Regulations/International Court of Arbitration: Difference between revisions
wikademia>MSUglobal New page: {{TF4.3}} ==ICC International Court of Arbitration== The International Chamber of Commerce has applications that can impact timely payments. In particular, there are arbitration mechanis... |
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The International Chamber of Commerce has applications that can impact timely payments. In particular, there are arbitration mechanisms available that can help parties reach an amicable settlement for payment issues. A final and enforceable decision can generally be obtained only by recourse to the courts or by arbitration. Because arbitral awards are not subject to appeal, they are much more likely to be final than are the judgments of courts of first instance. Although arbitral awards may be subject to being challenged (usually in either the country where the arbitral award is rendered or where enforcement is sought), the grounds of challenge available against arbitral awards are limited. | The International Chamber of Commerce has applications that can impact timely payments. In particular, there are arbitration mechanisms available that can help parties reach an amicable settlement for payment issues. A final and enforceable decision can generally be obtained only by recourse to the courts or by arbitration. Because arbitral awards are not subject to appeal, they are much more likely to be final than are the judgments of courts of first instance. Although arbitral awards may be subject to being challenged (usually in either the country where the arbitral award is rendered or where enforcement is sought), the grounds of challenge available against arbitral awards are limited. | ||
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Revision as of 13:56, 28 September 2007
ICC International Court of Arbitration
The International Chamber of Commerce has applications that can impact timely payments. In particular, there are arbitration mechanisms available that can help parties reach an amicable settlement for payment issues. A final and enforceable decision can generally be obtained only by recourse to the courts or by arbitration. Because arbitral awards are not subject to appeal, they are much more likely to be final than are the judgments of courts of first instance. Although arbitral awards may be subject to being challenged (usually in either the country where the arbitral award is rendered or where enforcement is sought), the grounds of challenge available against arbitral awards are limited.