Advantages of Arbitration

Advantages of Arbitration

1. Fast and Agile

The parties obtain a solution to their conflict in a period of time shorter than that of a judicial process, avoiding unnecessary delays and the deterioration of the existing relations between the parties.

2. Flexible and Immediate

The arbitration procedure is characterized by its flexibility and anti-formality. The principle of autonomy of the will of the parties prevails. The parties agree on the procedure and the deadlines in which the actions take place. Flexibility avoids unnecessary delays and the deterioration of existing business relationships between the parties. Arbitration is a system that helps the parties to resolve a specific conflict and turn a new page with a view to a better future, avoiding truncating their relationships and paralyzing projects dependent or influenced by the conflict.

3. Specialized

The arbitrators are professionals who are specialists in the legal matter subject to arbitration and are knowledgeable about the business sector in which the activity takes place. The Tribunal guarantees transparency in the choice of arbitrators.

4. Confidential

The Court will not give any type of information or publicity on the matters processed

Confidentiality is not only an advantage but a characteristic of arbitration and one of the reasons that lead many people to opt for arbitration as a conflict resolution system, since it guarantees the parties that no publicity will be given to the parties. Issues resolved through arbitration. This characteristic of arbitration is of the utmost importance when dealing with issues such as competition law, industrial property, intellectual property, family property issues, and many other issues. The duty of confidentiality obliges the parties, the arbitrator, and the arbitration institution itself.

5. Economical

It is a single instance procedure that ends with a final, firm, and enforceable award.

The arbitration procedure is overall much more economical and profitable for the parties than a traditional procedure. The main reason is that the arbitration procedure ends with an award that is final and firm and consequently enforceable, without it being able to be appealed or cassation. That is to say, in one instance a definitive solution is obtained and without any additional cost than that produced by the arbitration itself. Furthermore, the intervention of other professionals is not required, although intervention in the process through legal representation is recommended.

6. Efficient and Effective

The COURT OF ARBITRATION PMR guarantees the efficiency of the persons intervening on behalf of the institution and of the arbitrators designated by it, as well as the effectiveness of the resolutions issued by the arbitrators.

The vast majority of awards rendered in COURT OF ARBITRATION PMR arbitrations are complied with by the parties voluntarily, without the need for judicial enforcement.