Question

Arbitration is not preferred by the parties involved in international business

Answer 1

The above statement is incorrect because arbitration is mainly preferred by the parties involved in international business.

In conducting international business there may arise some differences and disputes between the parties involved in the business and in the international business world arbitration is preferred to solve the disputes over litigation.

Arbitration is chosen to solve the disputes because either the business parties are preoccupied or are unable to agree and are content to solve the business disputes by an outsider.

Arbitration is preferred over litigation because litigation puts some limitation over the decisions and the businesses.