International Commercial Arbitration

Abstract

The paper analyzes international commercial arbitration, highlighting it as an effective means of resolving commercial disputes before the courts. The author points out that, while trials in the judiciary can take years, arbitration offers speed, resolving cases in 90 to 120 days, and adapts to the needs of the parties in terms of procedure and specialization, which is essential in complex commercial matters. It also mentions that arbitration offers privacy and flexibility, factors that preserve business relationships and avoid public exposure of disputes. The paper also explains the existence of two types of arbitration: ad hoc arbitration, in which the parties choose the arbitrators without relying on an institution, and institutional arbitration, which is regulated by specific organizations that facilitate the process and resolve procedural disputes. Finally, it addresses the international recognition of arbitral awards and their importance in a context of globalization, mentioning relevant conventions such as the 1958 New York Convention.