What Is Arbitration and Why Businesses Prefer It Over Court?
Arbitration: A Smarter Way to Resolve Business Disputes
When disagreements arise in business, not every dispute needs to go to court.
More companies today in Thailand and internationally are choosing Arbitration as their preferred method of resolving commercial conflicts.
But what exactly is arbitration, and why is it becoming the first choice for many businesses?
What Is Arbitration?
Arbitration is a private dispute resolution process where parties present their case to a neutral arbitrator (or tribunal), who then issues a binding decision.
Why Businesses Prefer Arbitration Over Court
1️⃣ Faster Resolution
Court cases can take years.
Arbitration often resolves disputes in a much shorter timeframe.
2️⃣ Confidentiality
Arbitration hearings are private.
This protects business reputation, financial information, and sensitive contracts.
3️⃣ Choose Your Arbitrator
Parties can select an arbitrator with specialized expertise.
4️⃣ Enforceable Worldwide
Arbitral awards can be enforced in over 170 countries under the New York Convention a major advantage for international disputes.
5️⃣ Flexible Procedure
Parties can agree on language, rules, timelines, and even online communication especially convenient at THAC (Thailand Arbitration Center).
Arbitration isn’t just an alternative, it’s often the better business decision.
