The arbitrage has gained great impulse in Mexico, by virtue of the multiple advantages it offers on a lawsuit processed before the state judicial courts. This is a legal procedure transacted and developed by private individuals for the purpose of solving the commercial controversies arising among them. The speed in which it is transacted, the specialty and the certainty that characterize it, as well as the independence and impartiality of those who settle issues in conflict (Arbitrator(s)), are qualities much appreciated between corporation (both national and international) to rapidly plan and resolve their differences.
Ibáñez Parkman, S.C. has counseled and represented various clients in arbitration procedures, as well as with other alternate methods to solve the controversies, such as intermediation and conciliation. At Ibañez Parkman we are prepared to counsel and represent our clients:
Private Arbitrations processes before Arbitration Administration Centers, both local and regional (Arbitration Center of Mexico (CAM), Commercial Mediation and Arbitration of the Chamber of Commerce of Mexico City, Commercial Mediation and Arbitration Center for the Americas (CAMCA)), as well as international (Arbitration Court of the International Chamber of Commerce (CCI), American Arbitration Association (AAA), Inter-American Commercial Arbitration Commission).
In procedures for the solution of controversies filed pursuant to the provisions of chapter XIX of NAFTA or with the understanding of the standards and procedures that rule the solution of the difference of the WTC (see International Commerce); Characteristics of arbitration:
• Speed: the arbitration procedure is more expedite than the judicial procedure and the arbitration award is not subject to an appeal.
• Certainty: the arbitration award has the same legal strength as a legal sentence and thanks to the Convention on the Acknowledgement and Execution of Foreign Arbitration Awards of 1958 (New York Treaty) is susceptible of being executed abroad.
• Specialization: the arbitrators appointed are specialists in the type of controversies submitted to their consideration.
• Independence and impartiality: both the Arbitration Administrator Institution, as well as the arbitrators appointed, act in an independent and impartial manner.
• Cost: the speed and certainty make the arbitration a procedure comparatively less expensive than the judicial one.
• Efficiency: the efficiency of the arbitration procedure often leads the parties to solve their controversies in a friendly manner, before an award is rendered.