p. 1203. Resolution of commercial disputes
- Reza Beheshti, Reza BeheshtiAssistant Professor in International Commercial Law, University of Nottingham
- Séverine SaintierSéverine SaintierProfessor of Commercial Law, Cardiff University
- , and Sean ThomasSean ThomasReader, University of York
Abstract
This chapter covers the resolution of commercial disputes. Due to the nature and complexity of commercial activity, disputes inevitably arise especially within transactions involving large amounts of money. Generally, businesses often prefer to avoid litigation if possible as it is costly and time consuming while also generating bad publicity and damaging a trading relationship. The chapter then introduces the practice of arbitration, which is a popular method of settling business disputes that come out of contractual relationships. It considers the systems for alternative dispute resolutions (ADR), some of which are variants of arbitration or litigation that may offer advantages for the resolution of commercial disputes.
