Arbitration

The parties may, based on their own will, decide to settle their dispute by arbitration  instead of the national courts. By their consent,  the parties leave the settlement of the dispute to an expert or group of experts of the subject matter by their consent.

Upon signing a valid arbitration agreement parties may receive in principle a precise and binding arbitral award. For disputes having international elements arbitration awards which are rendered in due form can be recognized and enforced according to Newyork Convention across the world. Thanks to Newyork Convention arbitral awards become enforceable outside the place (state) of arbitration.