Commercial Arbitration in the Context of Increasing International Trade Disputes

Diana Ramona Popescu
JEL codes: 
F13 - Trade Policy; International Trade Organizations, F51 - International Conflicts; Negotiations; Sanctions, F63 - Economic Development.
The article focuses on the analysis of the alternative dispute resolution in commercial transactions, in particular on the commercial arbitration and its role in the sphere of international economic relation. The research begins with identifying the causes that have led to the multiplication of trade disputes. In order to indicate the framework of the analysis, the paper continues with terminological clarifications and definitions of commercial arbitration and the identification of the main international arbitration organizations. The objective of the paper is to highlight the advantages of commercial arbitration in ensuring a beneficial environment for the international trade transactions through settling efficiently the disputes arising between the parties. The author focuses on an assessment over the activity of the Court of International Commercial Arbitration attached to the Chamber of Commerce and Industry of Romania by exemplifying two cases of international commercial disputes settled through commercial arbitration.
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