Question

You are the CEO of a large publicly traded company. You are negotiating several contracts with foreign governments in Vietnam, India, and Brazil to provide hardware and software to government agencies. Are you interested in including an arbitration clause in the contract? Why? Assess what other alternatives you have.

Answer 1

Yes, I include an arbitration clause in the contract because it can help both parties to avoid a breach of contract and any legal disputes these must be subordinated to the arbitrary class, as it has limited resources arbitrary result in sacrificing fairness. The other alternatives I have are litigation and mediation. Litigation means fighting and defending in a court of law this generally ends in 4 to 5 years. Mediation means it is also used in law it is one of the ways of resolving conflicts and disputes between the parties, a third-party person is called as a mediator. So, in this case, I'm dealing with different corporations in different countries I will choose arbitration because it is fair and formal faster cheaper and more efficient, then choose a location that is convenient to arbitrate.