ICC ADR - A wise precaution

When business partners conclude a deal, they make every reasonable effort to ensure that they can deliver as agreed. Product quality, specifications, delivery times, spare parts, servicing, payment — these are some of the considerations.

But sometimes things go wrong. External circumstances like a national financial crisis cannot always be foreseen. Prudence demands that parties to contracts make due provision for all types of dispute, including those that mutual goodwill and informed outside help can settle.

The choice is yours

The International Chamber of Commerce offers a full spread of dispute resolution services so that you and your business partner can make the best choice.

The problem may perhaps be a disagreement on the interpretation of a contractual provision that is no more than a difference of opinion.

ADR, which covers all techniques of amicable dispute resolution, can be the solution for this and many other issues confronting business partners that are open to settlement on the basis of consensus and trust.

Arbitration

Arbitration under ICC rules is distinct from all those forms of dispute resolution that come under the heading of ADR. Unlike ADR, arbitration culminates in a binding award enforceable in all but a few countries. How arbitration resolves otherwise intractable disputes is explained here.

ICC offers an array of non-binding dispute resolution techniques that will only work if the parties are willing to accept them voluntarily. It is then open to the parties to reach a binding settlement agreement if they so wish.