Got a cross-border conflict that needs arbitrating? The International Institute for Conflict Prevention and Resolution might have just the process for you. The nonprofit dispute resolution provider recently released a set of new rules for administered international arbitration.
The new rules, which kicked in at the beginning of December, were prompted by feedback from the global business community and a growing need for efficient arbitration processes that work across borders. “We’re very excited about these rules in the sense that they offer, we think, a really strong and really positive alternative to the other sets of rules out there,” Noah Hanft, president and CEO of CPR, told CorpCounsel.com. “And I think what’s particularly significant is that in these rules we have addressed many, if not all, of the concerns that people have raised regarding arbitration and the process—those include cost, time, complexity of the process and the need for independence amongst arbitrators.”
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