Arbitration offers numerous benefits for resolving disputes, particularly in the current global environment. While parties typically access those benefits by including an arbitration clause in a contract that requires them to arbitrate future disputes, parties can also opt to arbitrate existing disputes that are not subject to an arbitration clause by entering into a submission agreement. This article discusses the reasons parties may wish to do so, and practical tips for doing so effectively.

Arbitration’s Benefits

Arbitration offers many benefits over traditional litigation, particularly in the cross-border context. Some of those benefits include:

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