The International Mediation and Arbitration Center promotes and administers Alternative Dispute Resolution (ADR) in international transactions. WLA-IMAC applies an integrated approach to mediation and arbitration to maximize the opportunity for parties in a dispute by reaching a negotiated settlement with time and cost savings, while ensuring a final result (arbitral decision and/or award) within a reasonable time if for any reason the parties fail to resolve their differences in mediation.
The election of ADR over a court of law is purely voluntary; without mutual consent of all of the parties to a dispute, WLA-IMAC cannot commence proceedings. Parties to commercial contracts are generally free to elect WLA-IMAC as administrator for ADR proceedings in any current or future disputes as may arise under a contract. When parties stipulate in writing to WLA-IMAC for dispute resolution, they have voluntarily accepted WLA-IMAC ADR administered by WLA-IMAC in the event of a dispute. Individual parties will remain bound by an ADR clause even if they later change their minds.
The decision to elect ADR should take into account the circumstances of the parties and the nature of their dealings. Common factors cited in favor of ADR include:
This is a broad generality. In some cases, arbitration proceedings especially can become quite lengthy. This depends to a large extent on whether or not the proceedings are administered (as opposed to ad hoc), and if administered, on the policies and procedures of the administering institution. WLA-IMAC in its role as administrator imposes certain time deadlines and otherwise uses its influence over the process to ensure that its proceedings are concluded expeditiously. Court proceedings can become very protracted in the appeals process; arbitral results are generally final.
Also a generality, as there are potential costs of MedArb (especially arbitration phase) which cannot be known beforehand. However, WLA-IMAC proceedings should be significantly more cost effective than a court of law in virtually every circumstance where it would be reasonable to elect ADR administered by WLA-IMAC. Even when arbitration is indicated, the case filing fees of WLA-IMAC typically compare very favorably with corresponding state fees for filing in court. Also important to consider, WLA-IMAC encourages the use of mediation which can be a major cost avoider. Even when a case proceeds to arbitration, the streamlined proceedings and limit on appeals tend to hold down the costs of legal counsel and other costs likely to be incurred in a more lengthy proceeding.
International Recognition of Awards
The 1958 New York Convention on International Recognition of Arbitral Awards is the key to the international success of arbitration. An arbitral award qualifying for recognition under the convention can be enforced in any country which has ratified the convention. The list of member countries is extensive. This gives arbitral awards an important advantage over conventional court awards which are typically only enforceable in the country where they were rendered. For more information, please consult Uncitral.
A truly flexible, impartial and cost effective means of dispute resolution to promote justice and beneficial commercial endeavors, WLA-IMAC is an initiative of GAMA, A network of WLA.
WLA-IMAC is continuously extending its network of neutrals in the Baltic States, Nordic Countries and Eastern Europe. Any qualified professional who wishes to be considered as a neutral should feel free to contact.