WHY ‘BUSINESS-FRIENDLY’ AND ‘NO-NONSENSE’ SHOULD BE SYNONYMOUS FOR COMMERCIAL COURTS
The cost of dispute resolution has been rising worldwide, causing smart businesses to seek out the most efficient, consistent and cost-effective dispute resolution solutions available to them. For many, the solution has become arbitration, although costs are rising steadily in this area as well. Enter a new type of commercial court, proudly business-friendly and focused on using the latest tools to enhance efficiency and best serve businesses in their dispute resolution needs.
A feature of this new breed of courts is their international outlook and ability to serve business dispute companies worldwide. But why might a company in far-off China or Nigeria choose to opt-in to the jurisdiction of a court in Singapore, Dubai or New York? The answer is that these courts have become standard-bearers for business-friendly and innovative dispute resolution services, contributing to business certainty and reducing costs for businesses around the world with tools that enhance court efficiency, even for companies located some distance away.
Being business-friendly is more than simply offering an efficient process and access to top judges, however. It also means taking steps to stamp out frivolous claims and delay tactics to create certainty and finality in dispute outcomes and enforcement, and save time and money along the way.
Oct-Dec 2018 issue