it a local or international doing business has always had it way of find
disputes and misunderstanding between both the parties that do business. When
it comes disputes it has its own complications and difficulties that can
stimulate. This part of the report specifies the principal concepts of dispute
and what method is going to be used for the disputes of our business.
in international trade involves, breach of contract, collection of payment due,
disputes with agents and dealers. There generally three known methods or type
For our business
we have agreed upon Arbitration as our method to resolve disputes if so any.
is usually a second option after mediation when a dispute cannot be settled by
negotiation between the parties. When disputing parties have an outside person
(“Arbitrator”) to dispute resolution this type of resolution is known as
Arbitration. An Arbitrator generally listens to both the side of parties and
makes legit decision which is agreed by both the parties to be bound by
arbitrator’s decision. It is kind of similar to mediation, but with the
exception that the arbitrator’s ruling is final and binds the parties. An Arbitrator
is collectively selected by both the parties and mutually agree that the result
binds which is stated in the contract.
selected arbitration because,
Arbitration is more sophisticated and private
way of resolution. The brand name of the both the companies are protected.
The decision is final and binding.
The relationship of the both the parties are not
Selection of arbitrator can be chosen from a
wide range of expertise in different kind of area.
The rules and arbitrator are independent from
both the parties, thus favoritism is out.
It is fast and cheap.
contract contains arbitration clause which contains all the part rules and
submission related to any disputes. We have kept our submission as wide as
possible, the submission determines whether a particular dispute is one that
falls within the agreement to arbitrate.
Arbitration clause consist or it is a private arbitration, we have agreed upon
to follow institutional type of arbitration. In which we choose the rules and
regulation of a particular organization equipped to conduct arbitration.
Arbitration Association (AAA) is the organization that we have agreed to
approach to resolve any disputes. Along with it we have decided to bind by
American law and its regulation.