The Advantages of Solving Commercial Disputes by Arbitration
The Advantages of Solving Commercial Disputes by Arbitration

Summary/Abstract: Solving disputes which come from legal entities’ business activities demands, among other, rapid action, safety for the parties involved in the dispute, decision finality, dispute confidentiality, saving time and money. In case that the value of the incurred dispute is financially important for the parties, the more important it is that the dispute gets its final decision as soon as possible. Leaving such disputes to court authorities, regardless of indisputable benefits, cannot answer many specific legal entity needs who have found themselves in a dispute on some subject, and to whom saving time and gaining profit are the most important guidelines in business dealings. The following text shows comparative advantage of arbitration compared to classic judicial proceedings in disputes which occur among legal entities, then comparing certain arbitration types which are available to the parties in the dispute, whereby the objective weaknesses of certain arbitrations are not excluded. Arbitration, whether it is understood as an alternative form of handling disputes, or as a judicial mechanism for solving problematic situations, deserves quality analysis and application in practice in a degree which would be according to the results, as well as all objective advantages of this mechanism.

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