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Litigation

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Arbitration

Arbitration

Arbitration is a process in which a dispute is settled, not by a court, but by an arbitrator appointed by the parties.

Definition

Arbitration is a process in which a dispute is settled, not by a court, but by an arbitrator appointed by the parties – and the parties agree to be binding to an arbitration award. Thanks to the simplicity of the arbitration process and the fact that the parties could choose an arbitrator who specialize in the disputed matter, the process of arbitration is quick and cost-saving.

Arbitration award is binding to the parties

An arbitration award is binding to the parties. Providing that the losing party fails to comply with the award, the winning party could apply to a court of jurisdiction for the enforcement of such award.

Roles of MVP

  1. Draft an arbitration clause
  2. Choose an arbitrator who specialize in the disputed matter
  3. Jointly attend, represent, or advise throughout the whole process
  4. Apply to the court of jurisdiction in case an opposing party fails to comply with an arbitration award

Organization Involved

  1. The Thai Arbitration Institute of Office of Judiciary http://www.tai-en.coj.go.th/
  2. Thailand Arbitration Center http://thac.or.th/en/