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Choice of arbitral tribunal

Having a choice among arbitral institutions, arbitrators, and places of arbitration is a significant advantage in comparison with the public court system and therefore deserves the greatest care. The reputation of institutions, technical specialization and costs are important criteria.

Cost considerations are often a factor in recommending a single arbitrator – unless the amount in controversy is particularly high or the matter is especially complex. In that case it is recommended to select a panel of several – as a rule three – arbitrators.

It is important to stipulate the qualifications of the arbitrators precisely in advance in order to arrive at an arbitral award that is fair and acceptable for all parties concerned. It may therefore be advisable to select an arbitrator who is a member of a specific profession or is employed in a specific industry, or who can contribute the language and inter-cultural skills that are necessary in international matters in particular.