While arbitration remains the best mechanism to ensure neutrality and enforceability of cross-border disputes, it has come under fire in the last decade, particularly from some corporate counsel and practitioners given a perceived rise in the cost of arbitrating commercial disputes.
Recent surveys of U.S. corporate counsel reflect a growing concern that arbitration can “take too long” or “cost too much.” In response to those concerns, all of the major arbitral institutions have undertaken significant studies and revisions of their rules to address these complaints, and reaffirm arbitration as the ADR mechanism of choice.
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