International Arbitration: Now Getting Longer and More Costly
By JOSEPH R. PROFAIZER
International arbitration—once heralded as a more effective and efficient alternative dispute resolution mechanism than international litigation—is now routinely criticized for replicating some of the same failings as litigation: excessive cost and duration of proceedings. The greatest strength of international arbitration—its procedural flexibility— can be used to control its increasing cost and duration. As a party or practitioner, the key is choosing the best procedural tradeoffs to maximize the ability to present one’s strongest case without incurring unnecessary and substantial additional costs or time.