International arbitration, once heralded as a more effective and efficient alternative dispute resolution mechanism than international litigation, is now routinely criticized for replicating some of the same failings as litigation: excessive cost and duration of proceedings. But the greatest strength of international arbitration -- its procedural flexibility -- can be used to control its increasing cost and duration, says Paul Hastings counsel Joseph Profaizer.
International Arbitration: Now Getting Longer and More Costly
The National Law Journal
July 29, 2008