Comparative Law Yearbook of International Business: The Arbitration Process - Special Issue, 2001
Crucial to any successful arbitration is good preparation, in particular the setting down in an arbitral agreement of the intentions of the parties with regard to any future disputes that may arise between them. Ideally, the parties should agree, inter alia, upon the type of arbitration, the choice of law, the situs, and the number and appointment of arbitrators.
The appointment of the arbitrators is a very important consideration in the conduct of an arbitration procedure. First, one must decide whether a sole arbitrator or a panel of three or more arbitrators is preferable in the specific circumstances, taking into account such criteria as cost, time, complexity of the issue, and the experience of the arbitrators. These points also, of course, have a bearing upon whether one chooses to arbitrate in the first place or whether litigation would be a more suitable route.
Various factors in making these decisions are discussed in detail by the authors in this volume, and much valuable guidance is given to those involved in the arbitration process.
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