Arbitration Actual benefit from arbitration What is the importance of arbitration? • First : Arbitration is a consensual means of settling disputes that expresses sophistication and progress between the parties, especially in international trade contracts. • Second : The parties in the arbitration system have wide powers in organizing the arbitration litigation, how it proceeds, until the final judgment is issued and how to implement it, as the parties have the freedom to renew the shape of the arbitration court and is it made up of an individual, three or five, and the parties have the freedom to choose the arbitrator’s personality and the specifications that he should meet and in Determine the dates of the sessions, the places for them to be held, and the period during which the final ruling is to be issued. There is no doubt that these authorities do not exist in the judicial dispute and are characterized by a compulsory organization in which the parties do not have any freedom to agree on what contradicts it. • Third : The parties to the arbitration dispute also enjoy wide freedom in determining the legal rules that apply to the litigation procedures and to the subject matter of the dispute. • Fourthly : Arbitration is characterized by the character of secrecy, as the law recognizes the legitimacy of conducting arbitration in a framework of confidentiality and secrecy, far from the openness that characterizes judicial court sessions. Fifthly: Arbitration is characterized by the element of speed in resolving the dispute, as the two parties to the arbitration can agree on the necessity of issuing the judgment that terminates the arbitration dispute at the time they agree upon. The arbitration court cannot violate this agreement unless it bears the legal responsibility. • Sixthly : The arbitration system is the appropriate and most appropriate means for international trade disputes, as individuals are freed from the authority of national law and the jus cogens imposed and have the freedom to choose the applicable legal rules. Seventh: The arbitration system is distinguished by the fact that it fulfills the element of specialization and expertise in dispute settlement, as it leaves individuals the freedom to choose the personality of the arbitrator from among the people of experience and specialization. Eighth: The arbitration award is distinguished in most countries of the world that it is a final, binding and enforceable judgment after fulfilling the procedural conditions required by the law. The arbitration system is not known in two degrees in Egypt and in most countries of the world. Litigation is of two degrees, and judgments issued by courts of first instance are appealed to courts of second degree, which leads to the loss of a lot of time, effort and expenses in following up the progress of the judicial dispute. Ninth: The arbitration system defines legal dimensions appropriate to the needs of international trade that do not exist in front of the judicial courts, where the party to the arbitration dispute can agree to authorize the arbitration court to settle the dispute in accordance with the rules of justice and fairness and exclude the provisions of positive law, which is known as the arbitration system for reconciliation.
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