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Miami attorney and senior parter at Concepcion Sexton & Martinez, Carlos Concepcion, commenting in Latin Trade magazine on the tendency for multinationals to avoid Latin American courts by seeking international arbitrators, says: "It's absolutely a hot trend. We see the negotiating of these arbitration clauses to be as dynamic and as important as the actual business terms of the agreement."
The article focuses on two high profile cases involving disputes between the Dominican Republic government and U.S. based companies, both of which were settled out of court. It goes on to state that alternative dispute resolution, especially the demand for an arbitration clause when structuring business contracts that cross borders, is a growth market in international commercial circles. As business goes global, arbitration increasingly has become the preferred - and sometime the required, under free trade agreements - method of business dispute resolution. Arbitration has gained favour because it promotes risk mitigation in the form of more certainty, impartiality, control over processes and confidentiality of busines secrets than parties would get suing in open court."
Concepcion adds: "You, as a party, can engineeer the process (with arbitration), as opposed to going to litigatio, where you are at the mercy of a judicial mechanism and the client is essentially in the dark."
Miami attorney Carlos Concepcion is a certified arbitrator with the American Arbitration Association.
For more information
Please download the article below or contact Carlos Concepcion regarding international dispute resolution issues.
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