Disputes between commercial operators are frequently resolved in private proceedings (arbitration). There are a number of reasons for this.
It allows the parties themselves to decide how the matter should be processed and who should serve as arbitrators. This in turn provides scope for a flexible and expedient review of the matter and allows the parties to give the court a composition that is appropriate in terms of the expertise needed for the case in question. Frequently this approach enables parties to resolve disputes quickly and, generally, with final and binding effect, without the need to bring it before a higher court. The fact that arbitral decisions can normally not be appealed imposes considerable demands on the parties and their counsel with regard to ensuring that the case is illuminated as thoroughly as possible in the first hearing. Proceedings of this type are private, which enables the parties to obtain a decision without publicity.
An agreement for arbitration may be entered into when the dispute arises, or at an earlier date. It is common in commercial contracts to agree that any disputes between the parties will be settled by arbitration. This is especially important in international contracts. As a result of a convention Norway has acceded to, an arbitration judgement is recognized and enforced in most countries we have business relationship with. In addition, institutional arbitration may be agreed, which entails that the parties tie themselves to an arbitration institution with a set of regulations and a secretariat for processing arbitration cases, for example Oslo Chamber of Commerce or International Chamber of Commerce (ICC).
Our lawyers can advise and represent clients in connection with arbitration. Our services include:
Advice on questions concerning the conclusion of arbitration agreements
Advice concerning the choice of arbitral institution
Drafting agreements on arbitration
Functioning as arbitrators
Engagement as counsel in matters subject to arbitration, nationally or internationally
Assistance in connection with the enforcement of arbitral judgements