Find Lawyers in Madrid, Spain for International Arbitration

Arbitration is an alternative method of dispute resolution resulting from the parties' agreement to have their disputes resolved by an independent and impartial arbitrator or arbitral tribunal. Although international arbitration usually involves commercial disputes, it also can be used to solve investment disputes. In the latter cases, the parties' agreement to submit to international arbitration will be found within an investor-state contract, a national investment law or bilateral or multilateral investment treaty.

Arbitration has become the primary vehicle for the resolution of international commercial disputes. It is strongly recommended firstly, because the neutrality of international arbitration permits independent and impartial resolution of disputes. Secondly, because parties remain a degree of control over the adjudication process, as they can select their decision-makers and tailor the proceedings to meet their needs and the peculiarities of a specific dispute. Thirdly, because arbitration is confidential, it allows parties to preserve sensitive commercial information, to prevent adverse publicity and to maintain ongoing relationships. Finally, arbitration also has a streamlined enforcement mechanism.
The expansion of the New York Convention (which regulates recognition and enforcement of foreign arbitral awards) and the development of harmonized legal regimes and internationally applicable standards and guidelines, have enhanced the attractiveness of international commercial arbitration.

In international disputes the use of institutional arbitration, as opposed to ad hoc arbitration (i.e. arbitrations which are not administered by specific institutions), becomes particularly important. Arbitral institutions offer a standardized and reliable system conformed by a set of rules governing the procedural aspects of the arbitration. Some of the most important institutions are: the International Chamber of Commerce (ICC), the London Court of International Arbitration (LCIA), the Stockholm Chamber of Commerce Arbitration Institute (SCC), and the Court of Arbitration of Madrid (CAM). The International Centre for Settlement of Investment Disputes (ICSID) is the major institution used to solve investment disputes through arbitration.

Lawyers advise clients on every step of the arbitration, including the drafting of the arbitration clause, the selection of the arbitrator and arbitral institution, the drafting of written submissions, the assistance in the preparation of witnesses’ and experts’ depositions and cross-examinations and the enforcement of the arbitral award.