Sound familiar?

Two companies from England and Germany negotiate a contract and soon agree on all points but two: the place of jurisdiction and the applicable law. They decide against English law in front of English courts (prejudicial to the German party), against German law before German courts (prejudicial to the English party), and against a third legal system with which neither party is familiar (impractical). A combination of either an English or a German court and a legal system from the other country would be equally unwieldy and impractical. As the two companies weigh their options, they realise that they are actually seeking the same thing: a neutral and EFFICIENT dispute resolution system that produces a FAIR result in line with their contract.

 

Two other companies are parties to a contract which provides for arbitration before one of the established courts of arbitration. As a dispute arises, the parties are concerned that the costs and the time investment necessary in the agreed dispute resolution mechanism are disproportionate to the amount in dispute. Thus, they seek a more EFFICIENT procedure which produces a FAIR result in line with their contract and allows them to save time and money.


Rely on COIA

COIA offers exactly what those companies are looking for. COIA provides an EFFICIENT alternative dispute resolution that can be added to contracts before signing or employed after a dispute has arisen. In both cases, COIA helps save contractual parties time and money. Moreover, if parties make use of COIA’s unparalleled experience in ex aequo et bono arbitration, they can expect a FAIR result and avoid the headaches associated with legal technicalities, foreign laws and selecting a jurisdiction that is free of prejudice to both parties.

The main features of COIA are:

  • A sole arbitrator appointed through a swift appointment procedure
  • Unless the parties agree otherwise, the arbitrator may decide the dispute ex aequo et bono.
  • Only one exchange of submissions, unless decided otherwise by the arbitrator
  • Hearing only if agreed by both parties or deemed necessary by the arbitrator
  • Short time limits
  • Paperless arbitration to the furthest extent possible
  • Claimant can streamline the proceedings additionally by requesting an award without reasons if the respondent fails to pay the advance on costs