The expedited
arbitration offers the following advantages:
- It is cheaper.
In normal circumstances, the rates of the organizations offering arbitration
are far less than the costs involved in using Law Courts and hiring legal
representation. But Translationtown also offers its users an extraordinary
reduction in the rates
which the Center would ordinarily charge.
- It is quicker. As a general rule, the whole process takes a third of
the time it takes courts to issue a judgement.
- It is confidential. The conversations and negotiations are conducted
in private: all the documents submitted and the award (the decision of
the arbitrator) remain confidential.
- Choice of arbitrator. The parties may appoint their own arbitrators
or allow the Center to choose them. For this purpose, the Center keeps
lists of mediators and arbitrators with full details of their skills and
experience.
- It provides impartiality for all parties when it comes to choosing the
legislation, the procedure and the language governing the proceedings
- It is neutral with regard to the law, language and institutional culture
of the parties.
- It requires a single process (instead of various legal actions
across different countries): the end result is also immediately applicable
at international level.
|