As stated in the introduction, the number of Arbitration and Court Cases is increasing these days. Therefore, it is important to determine in a contract which actions will be taken in the event of a dispute and if parties cannot come to an amicable solution. Subject to the type of contract, the activities under the contract and the nationality of the parties concerned, it is possible that an arbitration institute is determined within the contract, where possible disputes can be addressed for a decision or a court is appointed. In case there is no specific arbitration clause in a contract, both parties are free to agree to an arbitration institute or a place of Court.

 

For most business branches there is a specific Arbitration institute. Furthermore, there are also general arbitration institutes. Examples in the Netherlands are TAMARA(dedicated to the maritime business) and the NAI(more general), and internationally for example ICI(Paris), LMAA(London, maritime oriented), AAA(USA, general), Stockholm, etc. Each institute has its own rules and regulations, which can have considerable differences. Therefore, it is best that before signing of a contract special attention is given to the arbitration clause.