What is Litigation?
Litigation is where negotiations fail, the parties must solve their dispute through the State Courts, that is if the parties have not agreed or elected to solve their dispute by alternative dispute resolution mechanism such as Arbitration or Mediation.
What is Arbitration?
Arbitration is a private dispute resolution mechanism chosen or elected by the parties, to solve their dispute by arbitration. please refer to areas of practice; International Commercial law (International Sale of Goods), International Commercial Arbitration, International Constructions Contracts and Arbitration and International Investment Law and Arbitration (Investor state dispute settlement) to understand how Arbitration is chosen or elected as the dispute resolution mechanism under each area of practice and be aware of the likely claims under the heading of these said areas.
Whats is domestic Litigation and domestic Arbitration?
Domestic Litigation / Domestic Arbitration is where both parties in dispute are within the same jurisdiction, such as jurisdiction of England and Wales.
What is International Ligitation and International Arbitration?
International Litigation / International Arbitration is where the parties in dispute are in or from different jurisdictions. An example would be where the Claimant or their business is in or from Turkey (Turkish Establishment) and the respondent or their business is in or from England and Wales (English and Welsh Establishment) vice versa.
What is a Judgment and how is it enforceable?
In Litigation, the court decision is called a judgment and it is binding upon the parties. The judgment is enforceable in the country where the court has made the decision. However it is difficult to enforce a judgment in a foreign jurisdiction. The courts in other jurisdiction may not recognise the decision of a court in another jurisdiction.
What is an Award and how is it enforceable?
In Arbitration, The Arbitral Tribunal’s or arbitrator (s) decision is called an “award” and it is binding upon the parties. The award is enforceable in the country where the award is rendered and where the matter is Commercial Arbitration, the “award” is enforceable in foreign courts or foreign jurisdictions, under the United Nations Conventions on Recognition and Enforcement of Foreign Arbitral Awards New York Convention 1958, in countries that have ratified the New York Convention 1958. Most countries in the world have ratified the New York Convention. Where the matter is investment Arbitration, the “award” is enforceable under International Centre for the Settlement of Investment Disputes (ICSID Convention), in countries that have ratified the ICSID Convention. Most countries in the world have ratified the ICSID Convention.
Is a judgment easy to enforce or is an award easy to enforce?
It is easier to enforce an award than a judgment, in foreign jurisdictions.