Arbitration Clause: How It Can Save a Company Years of Litigation

An arbitration clause can determine whether a commercial dispute will be resolved over the course of years in a general court or much more quickly through arbitration. However, it is not suitable for every contract, and improper wording can significantly complicate the entire process.

In the latest episode of Highgate Talks, Peter Varga discusses with Tomáš Demo when it is in the best interest of business owners to opt for arbitration rather than a general court.

In this episode, you’ll learn:

• Why can a typical commercial dispute in Slovakia take three to five years,
• how the arbitration clause works in B2B contracts,
• why today’s arbitration tribunals can no longer be compared to their troubled past,
• What are the advantages of arbitration in terms of speed, expertise, and confidentiality?
• whether the arbitral award is binding and enforceable,
• which disputes cannot be resolved through arbitration,
• when arbitration is not financially worthwhile given the value of the dispute,
• Why might an improperly worded clause result in a dispute being referred back to a general court,
• and when does it make sense to choose an arbitration institution in Vienna, Paris, or London, even for a contract governed by Slovak law?