ICCs International Court of Arbitration was founded to resolve business conflicts among internationally trading companies and constitutes a leading centre in providing resolution Services for commercia! disputes. The court is widely renowned for its strict neutrality. Since its establishment in 1923, the Court has administered more than 13'000 international arbitration cases that have involved parties and arbitrators from more than 100 countnes.
Compared with ordinary legal procedures/ the advantage of arbitration lies in its highly efficient management of proceedings. Parties are free äs regards choosing an arbitrator, particulars conceming the place and language of arbitration/ äs weil äs the applicable rules of law. Moreover/ arbitral proceedings result in binding awards.
The Court of Arbitrations' role lies in providing an organisational framework for the procedures and offer/ if necessary, support to arbitrators. It oversees procedures/ helps to resolve problems and guarantees the enforcements of awards. Support is granted in French/ English/ Arab/ German/ Spanish/ Italian/ Portuguese/ and Russian.
Parties wishing to have recourse to ICC arbitration in case of commercial conflict should introduce specific reference meanwhile negotiating their contract - well ahead signs of commercial dispute appear. For all parties stipulating ICC
arbitration äs dispute resolution mechanism/ the foliowing Standard clause is recommended: «All disputes arising out of or in connection with the present contract shal! be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with the said Rules of Arbitration»