Shahram Shirkhani: An Overview of Commercial Arbitration
An accomplished legal professional with many years of experience, Shahram Shirkhani leads the International Law Firm of Shirkhani & Alavi. In this capacity, Dr. Shirkhani advises clients on an array of legal issues, including commercial arbitration. Defined as the resolution of business disputes through one or more independent arbitrators, commercial arbitration represents an ideal solution for businesses that wish to avoid the high costs and time commitment associated with the courts.
In general, commercial arbitration occurs when two entities write an arbitration clause into their business arrangements, a decision that usually cannot be overruled. Commercial arbitration plays an integral role in the resolution of international business disputes, as a foreign judicial system may be inclined to favor one party over the other. While rulings from foreign legal systems can mean next to nothing for certain entities, international arbitration decisions carry a great deal of weight with members of an international business community.
International arbitration may be governed by one of many international laws, including the United Nations Commission on International Trade Law (UNCITRAL). Be sure to consult an attorney who is well versed in international law and legal disputes, in your home country and in any foreign country in which you do business, if you are considering arbitration.