Arbitration

Thailand established the arbitration procedure and institution following its admission to the New York Treaty in 1958 (New York Convention 1958), as did the other countries that joined the treaty. It will make arbitral awards enforceable in nations that are signatories to the agreement.

The goal of establishing an arbitration mechanism in many nations is to resolve conflicts that emerge when conducting business and international If foreign enterprises must follow the country’s legal process, they may face a disadvantage.

In the arbitration process, both conflicting parties can choose an arbitrator based on their experience. Both parties must agree on it, and they may also select the arbitration institution to resolve the dispute.

Dispute resolution through arbitration has become increasingly prevalent. This is due to the growth in international trade, which makes it possible to select specialists for that issue. Resolve International trade growth allows for quick and convenient resolution of disputes. Medical, construction, and financial disputes are complex issues. Resolving the issue promptly is crucial to minimizing damage.

“Bangkok Business Lawyer” officially joined forces with the Thailand Arbitration Centre (THAC). We will collaborate on the arbitration procedure and cooperative academic projects. To provide arbitration services and exchange arbitration information with individuals who are interested. Learn more about our MOU signing ceremony here.