COIA arbitration, including ex aequo et bono, delivers EFFICIENT and FAIR dispute resolution while helping to save its parties both time and money.
COIA is Efficient
- Sole arbitrator
- Simple and flexible procedure
- Generally ex aequo et bono, unless parties agree otherwise
- Award enforceable through New York Convention
Ex aequo et bono is Fair
- No "home jurisdiction" advantage for either party
- Focuses on the parties’ contract
- Safeguards against clear unfairness
- Cases handled by true experts in ex aequo et bono
The COIA advantage versus classical arbitration
Classical arbitration tends to be more complex and expensive than it should be. It is sometimes too similar to court proceedings and suffers from “over-lawyering”. Moreover, arbitrators are frequently asked to deal with jurisdictions in which they have not been trained, resulting in additional delays and costs.
COIA tackles these problems by going back to the roots of arbitration:
COIA encourages parties to seek a decision ex aequo et bono, i.e. according to the contract and general considerations of justice and fairness. The two model arbitration clauses (before and after a dispute has arisen) therefore expressly authorise the Arbitrator to decide ex aequo et bono. The parties can rely on the unparalleled experience of COIA’s Arbitrators and its Secretariat, who have handled more than 700 ex aequo et bono arbitrations to date.
In addition, COIA’s rules and procedures provide for a simple and efficient process, no matter whether parties seek ex aequo et bono adjudication. Amongst its many benefits, this means a sole arbitrator and, unless the arbitrator decides otherwise, only one exchange of submissions. Also, there is typically no document production phase.
Hearings will be held on an as needed basis only.