ARBITRATION OVERVIEW
ERAKLEOUS & LEMONARI lawyers are experienced arbitrators who not only understand the huge benefits that arbitration can bring to a commercial dispute, but also when it is an appropriate course of action.
We are able to conduct both domestic and international arbitrations and strive to advise clients on a commercially aware basis, examining all of the aspects of an individual case in order to determine the most effective (and fastest) resolution to a dispute.
Arbitration is a form of alternative dispute resolution which permits parties to settle a dispute outside the court system. Parties submit to an agreed impartial adjudicator whose decision in their dispute is binding.
The Advantages of Arbitration
- Agreed adjudicator will be an expert in the field of dispute and will have sufficient expertise to make an informed judgment
- Cost effective solution which is often significantly cheaper than court action
- Speedier than pursuing action through traditional litigation
- Flexibility for businesses
- Confidentiality can be retained as there is no requirement for arbitral award to be public
- Generally it is easier to enforce the award in another country by virtue of the New York Convention 1958
Cyprus as a Venue for Arbitration
Cyprus is a wise choice of venue for any international arbitration. Geographically easy to access the location of the island makes it perfect for settlement of international disputes. Highly experienced experts are on hand to act as adjudicators in arbitration and the entire process is underpinned by an efficient infrastructure which comprises a multi-lingual, educated, work force experienced in the latest technological methods of operation. A host of highest quality venues are at the disposal of the parties.
Our team of Cyprus lawyers has the experience to guide you through your need for arbitration. Contact us to get help with your case.