Disadvantages of traditional arbitration in international trade disputes and methods for resolving them

Abstract

Commercial arbitration for investors obtains a ruling by arbitrators with extensive experience in the field of disputed interaction, in addition to its role in opening the way for choosing the appropriate law for litigation, provided that it does not conflict with public order and public morals. Therefore, arbitration contributes effectively to ensuring the implementation of contracts concluded in as for huge investments, The research aims to shed light on the defects of the nature of traditional arbitration in international trade disputes and methods for resolving them. In order to achieve the goal of the research and solve its problem, the descriptive and analytical approach was relied upon by addressing the problem. The study reached many results, which are that international commercial arbitration is flawed with some Gaps or defects that affect investors' access, thus negatively impacting the national economy. Perhaps the most important of them is the length of time for the procedures: international commercial arbitration requires a long time to resolve commercial disputes, which leads to high costs and delay in settling disputes. Therefore, the study recommends the need to reduce the costs associated with international commercial arbitration and develop the administrative and financial system related to it. To achieve the research objective and address its problem, the descriptive-analytical approach was adopted, addressing the problem in two main sections. The first section presents the shortcomings of international commercial arbitration and commercial disputes. The second section explores methods for addressing these shortcomings. To further achieve the research objective and solve its problem, the research is divided into two main sections.