Arbitration in Italy
Arbitration in ItalyUpdated on Monday 18th April 2016
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Arbitration is a method for settling a dispute that is chosen by many entrepreneurs who are running different types of businesses abroad and who don’t want to go in court because they don’t know the legal system in that country or they don’t want to be involved in a trial that may last too long.
Arbitration can be applied for civil and commercial disputes in Italy, no matter if foreign or local citizens or entities are involved.
The advantages of the arbitration, explained by lawyers in Italy
If you choose the arbitration instead of a trail in court, you will save time and money. The procedure is simpler than in courts – the parties involved in a dispute appoint the arbitrators who have a strong experience in the field related to the dispute. They have a deadline for settling the cause, unlike the courts where a trial can last for years and no one knows when it will end.
More people these days choose the arbitration due to its benefits, but there is an important number of businessmen who prefer the litigation in court especially if they have very good lawyers in Italy and they count on them to obtain a positive decision.
For local and foreign citizens who choose the arbitration, there are important advantages, except the saving of time and money. The arbitrators have a high expertise in the field of the dispute and the parties have the right to choose the arbitrators they want. The arbitrators must be neutral and they must ensure full confidentiality.
The calculation of the costs
The costs of the arbitrations in Italy can be considered expensive by many entrepreneurs comparatively to the fees they have to pay if they choose a trial in court. The arbitrators may ask a fee that is calculated as a percentage of the amount that is in dispute.
One of the most reliable entities for arbitration in Italy is the Milan Chamber of Arbitration that handles both local and international disputes and it has an experience of over 15 years. Many international disputes are settled here.
If you need more information about the arbitration in Italy, you may contact our lawyers in Italy who will offer you legal assistance and guidance for settling rapidly and cost efficient a dispute with your partners in Italy.