What is arbitration?

It is one of the dispute resolution systems managed by the Consolat de Mar.

It is freely chosen by the parties in a dispute or disagreement in order to have it resolved by a third person: the arbitrator.

Who provides the service? The acting body

The Consolat de Mar is the body which administers and manages the proceedings.

It is responsible for the fulfillment of all requirements, either formal or legal, with full observance of the principles of equality, hearing, opposition method and confidentiality.

It is the body which appoints the arbitrator/s who issues the award or final resolution.

Who can take advantage of it? The parties

The parties are those people who, both in an individual or corporate sense, and under professional, business or commercial circumstances, become involved in a dispute or a divergence resulting from their interaction. And, accordingly, they decide to submit the settlement of their dispute to a specific procedure in an easy and conclusive manner.

What are the advantages of arbitration? The proceedings

• The arbitration proceedings are free, optional and exclusive. It is set out by the parties will, freely expressed and agreed, and avoids the resorting to the judiciary proceedings.
• The proceedings are flexible and duly regulated. The parties may adapt them to their needs, without detriment to the fulfillment of legal rules.
• Furthermore the proceedings are of fast development and, so, economical. Should the parties don't agree on a deadline, they last not more than six months after the request submission. The speed saves money and avoids uncertainty.
• There are several forms which the proceedings can take according to the nature of the controversy and the arbitrator's profile required. Lawyers or other experts may be appointed to act as arbitrators upon request. The proceedings may be either national or international.

Who else is involved? The arbitrator or arbitrators

The arbitrator or arbitrators appointed are expert in the field of the controversy. In the event of the parties disagreement, the Consolat de Mar shall appoint the most appropriate expert.

Upon request of the parties, the arbitration can be processed either by one arbitrator or three arbitrators forming an arbitration tribunal.

What are the fields involved? The dispute

All matter of fact or applicable law concerning the normal development of professional, business or commercial relations, which can be decided in arbitration.

How does it come to an end? The award or resolution

I t is the final decision issued by the arbitrator. It is compulsory and mandatory. It is only revocable by means of due nullification.

It can be agreed upon the parties' request.

Where can it be applied and enforced?

It is a enforceable before foreign courts according to international law.