Arbitration a legal method of dispute resolution. In simple words, it is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute.
Arbitration is a method of private dispute resolution procedure instead of going to court. Many people faced with commercial disputes opt for arbitration as a more cost- and time-effective alternative to litigation.
When opting for arbitration for resolution of commercial disputes, it is necessary to contact a qualified dispute resolution & arbitration law firm in Dubai. This will ensure that all processes and decisions made will be in accordance with the latest national laws.
What is the Role of Arbitration in Commercial Disputes?
Whenever any commercial disputes arise, it is always encouraged that the affected parties peacefully resolve the conflict via negotiation or mediation. However, when neither of these methods are effective at resolving the dispute, then the parties are referred to arbitration.
In such a scenario, the case is presented by all parties in front of qualitied arbitration lawyers, who review the case carefully with evidence. Then, the arbitrator makes a final decision according to the national and international laws. Depending on the type of arbitration, the decision may or may not be legally binding.
Arbitration plays a significant role when it comes to resolving commercial disputes for a number of reasons. Here are the top reasons:
- It is less time-consuming than litigation
- It is a more cost-effective alternative to litigation
- It gives a final decision to both parties in accordance with the relevant laws
- It can resolve a deadlock situation where parties cannot come to an agreement via negotiation or mediation
- A decision is given based on thorough examination of both parties arguments, the case details, and solid evidence
For these reasons, many people choose arbitration for resolving their commercial disputes. It is an effective way to receive a legally binding solution to the dispute from qualified arbitration lawyers in Dubai, without having to endure the cost, stress, and time of formal legal proceedings, which can take months or even years to resolve.
Therefore, arbitration plays an effective role in commercial dispute resolution.
What is the Best Dispute Resolution & Arbitration Law Firm in Dubai?
Should you ever find yourself in the middle of a serious commercial dispute, then you will require the sound advice from expert arbitration lawyers in Dubai.
Al Zarooni Advocates is one of the best dispute resolution & arbitration law firm in Dubai. Our team of specialist arbitration lawyers in Dubai are highly skilled and possess over 10 years’ experience in resolving disputes and attending arbitrations administered by the major international arbitration institutions.
Contact Al Zarooni Advocates & Legal Consultants to get in touch with the best arbitration lawyers in Dubai. As one of the best dispute resolution & arbitration law firm in Dubai, we can help you successfully resolve your commercial disputes and come to a satisfactory agreement.