international law
Transcript: Institutional Arbitration Peaceful Constructively Efficiently Advantages of Arbitration International Arbitration is... America (Expertise, privacy protection, less cost, brevity, peaceful) Arbitration has many advantages Brevity Advantages In July, 1997, Asian Financial Crisis happened Expertise 3 arbitrators were selected from ICSID Arbitration was brought The Indonesian company had to pay much money to the American company (less exposure to public) (International Centre for settlement of Investment Disputes) International Arbitration Disadvantages In 1997, the economy of Indonesia was improving. Courts basically favor arbitration. Almost all civil disputes are arbitrable An exception (verdicts are sentenced more quickly) Privacy Protection America favors arbitration Almost all civil disputes are arbitrable 1) Institutional Arbitration 2) Ad hoc Arbitration In the U.S ... When disputes over large amount, fee is high when disputes over small amount, fee is higher than the amount of controversy A leading method for resolving disputes arising from international commerce and other international relationships. (parties can choose expert) 2 Kinds of Arbitration Less Cost In 1997, the economy of Indonesia was improving. There are 2 kinds of arbitration Easy to pick out an expert Disadvantages Administrative fee for services & facilities An American electric company establish an power plant, and sell the electricity to Indonesian company (No arbitration where Congress stated the provision of specific law can be enforced only in the courts) to reduce cost to accelerate the process to structure procedures to suit particular needs Advantages Quickly Availability of pre-established rules & procedures Ad hoc Arbitration (parties can have long-term relationship) In 1997 By Rikito Shimizu parties are required to submit response quickly parties need to find specialists by themselves (Arbitration without using institution) (cheaper than litigation) 1) Institutional Arbitration 2) Ad hoc Arbitration (without institution) Thank you for listening Foreign capitals invest much money in energy development Summary Indonesia
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