With the advent of globalization,the number of companiesengaged incross-border transactions,and therefore, cross-border disputes, hasgrown exponentially. To avoid the maelstromof litigating in a foreign country orindeed having satellite litigation overwhich countries’ courts have jurisdiction,international companies now appreciatethat particular attention must be paid atthe outset of the transaction to the disputeresolution mechanism within theunderlying contract.
Statistics show that international commercialarbitration has emerged as thepreferred choice for resolving such disputes.
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