International Commercial Arbitration as an Alternative Means for Resolving Commercial Disputes

Abstract

This research aims to study international commercial arbitration as an alternative means of settling commercial disputes, by analyzing the theoretical and legal framework on which it is based, reviewing its advantages compared to the formal judiciary, and highlighting the most prominent challenges facing it, whether at the legal or practical level. The research in its three chapters dealt with the concept of arbitration, its legal basis, and its sources, and then detailed the advantages it provides compared to the judicial system, before discussing the problems that limit its effectiveness, such as the limited appeal, the difficulty of implementing judgments in some countries, the absence of legislative standardization, as well as the future challenges associated with electronic arbitration and institutional transformation.

The study concluded that international commercial arbitration represents an effective and preferred option for dispute settlement, especially in commercial relations of an international nature, but its effectiveness remains contingent on the existence of a supportive legal environment and an international will to develop arbitration legislation and practices in line with the developments of the digital age and economic globalization.