An arbitration tribunal is an alternative dispute resolution mechanism to the traditional courts. Practical services provided by an arbitration tribunal include:
Litigation management
Selection of arbitrators: The arbitration tribunal may provide a list of qualified arbitrators, or the parties may agree on arbitrators. Arbitrations may involve one or more arbitrators, depending on the complexity of the case.
Choice of rules of procedure: The parties may choose the rules that will govern the arbitration (e.g. ICC Rules, LCIA, or other institutions), or agree on a specific procedure.
Setting the procedure: The arbitration tribunal defines the procedural stages of the arbitration (submission of briefs, hearings, deadlines, etc.).
Settlement of disputes
Arbitral award: After studying the case, the tribunal issues a decision called an “arbitral award”. This is binding on the parties, unless they can demonstrate serious errors in the procedure.
Hearings: If necessary, the tribunal organizes hearings to enable each party to present its arguments and evidence in person.
Examination of arguments : The arbitration tribunal examines the arguments of both parties and the evidence submitted. Arbitrations may concern commercial contracts, international disputes, intellectual property rights, construction disputes, etc.
Enforcement of the award
International recognition: Arbitral awards are generally recognized internationally under the New York Convention (1958), which allows them to be enforced in signatory countries, even outside the country where they were made.
Enforcement assistance: Although enforcement of an arbitral award is generally guaranteed by national courts, an arbitration tribunal can sometimes help overcome obstacles to enforcement, notably by coordinating with local authorities.
Confidentiality
Protecting sensitive information: Unlike public court proceedings, arbitration is often more confidential. Information disclosed during the arbitration process is protected, which can be particularly important for companies wishing to avoid making a commercial dispute public.