Arbitration process

In American Air force, arbitration is preferred as it has minimized the waiting period to a bare minimum level and it has assisted to solve issues by more than 450% According to National Arbitration Forum, domain name disputes had been resolved by it through arbitration process about 120% more in 2006 than that of 2005. Further, it handled about 1700 Internet trademark disputes like George Foreman, New York Yankees in 2006. These examples signify how arbitration is helpful in solving the issues than through normal court process.

Thus, arbitration is justified in better way of obtaining a well-reasoned and fair decision in a short span of time at very less cost. LITERATURE REVIEW: This will be carried through by studying various previous empirical research studies carried out on the subject. This section will analyze the following important questions on the subject 1. Why U. S. government and other national government is emphasizing for the usage of Arbitration or ADR [Alternate Dispute Resolution] for resolving commercial disputes? 2.

What is the effect of compulsory arbitration clause in commercial contracts? 3. What are all the main benefits that society derives out of arbitrational process? 4. What are the future actions to be pursued by U. S. government in supporting and encouraging the arbitration process in the legal system? 5. This section also recommends what are all additional initiatives to be pursued by U. S. government for the development and growth of arbitrational process? METHODOLOGY: Review of existing and past empirical studies on the subject is to be perused.

A detailed study on NAF [The National Arbitration Forum], the American Arbitration Association [AAA] and JAMS, a forum offering alternative dispute resolution services . The study also takes into account a study conducted by Ernst on arbitration and Young and deliberates their finding in detail. The study also takes into account the secondary sources like articles and books published on the subject by peer viewed journals and publishers.

DATA COLLECTION: There are very limited data’s are available about commercial contracts and arbitration. Data for this research will be collected from the following websites [1].www. cisg. law. pace. edu [2] www. unilex. info and [3] the UNCITRAL database featuring the CLOUT system is available at www. uncitral. org . CONCLUSION: This section sums up of my findings and arrives at a conclusion and any recommendation on the subject.

References

All Business . com. [NA] Should Your Contract Contain an Arbitration Clause? Retrieved August 1, 2008, from http:// http://www. allbusiness. com/legal/arbitration/543-4. html. Fulkerson, Bret. [2001]. A Comparison of Commercial Arbitration: The United States and Latin America. Houston Journal of International Law, Vol. 23 [3], p. 537.