A recent analysis of the arbitration sector indicates that corporations are increasingly prioritizing the quality and reputation of arbitral institutions in their arbitration agreements. This trend, often termed as a ‘flight to quality’, is changing the landscape of dispute resolution.
As per Gary Born, chair of the international arbitration practice group at Wilmer Cutler Pickering Hale and Dorr, the Middle East is evolving as a significant hub for arbitration. Born also highlights how the region, in its strive for setting high standards, could positively influence commercial arbitration. Furthermore, he argues that state-to-state proceedings can also be effective, even in the most persistently difficult situations.
For a full read, please proceed to the original article at
New York Law Journal.
Despite this flight to quality, firms should not neglect the accessibility or compatibility of arbitral institutions with their specific needs. Choosing an arbitral institution should still be case-specific, evaluating factors such as the nature of the potential dispute, location, and jurisdictions of the parties involved.