How does debt arbitration work in international insurance settlements?

What international arbitration law firm would you recommend?

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Debt settlement, also known as debt arbitration or debt negotiation, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full.

The main reason that parties elect to have their international disputes resolved through arbitration, is to avoid the uncertainties associated with litigation in national courts and the resulting need to enforce judgments in a foreign court.

For international commercial transactions, parties may face many different choices when it comes to including a mechanism for resolving disputes arising under their contract. If they are silent, they will be subject to the courts of wherever a disaffected party decides to initiate legal proceedings and believes it can obtain jurisdiction over the other party. This may not sit well with parties that need to know at the time of entering into their contract that their contractual rights will be enforced. The alternative to silence is to specify a method of binding dispute resolution, which can be either litigation before the domestic tribunal of one of the parties or arbitration. If the parties choose to resolve their disputes in the courts, however, they may encounter difficulties. The first is that they may be confined to choosing one or the others' courts, as the courts of a third country may decline the invitation to devote their resources to deciding a dispute that does not involve any of that country's citizens, companies, or national interests. The second, and perhaps more significant difficulty, is that judicial decisions are not very "portable" in that it is difficult and sometimes impossible to enforce a court decision in a country other than the one in which it was rendered.


International Commercial Arbitration

The resolution of disputes under international commercial contracts is widely conducted under the auspices of several major international institutions and rule making bodies. The most significant are the International Chamber of Commerce (ICC), the International Centre for Dispute Resolution (ICDR), the international branch of the American Arbitration Association), the London Court of International Arbitration (LCIA), the Hong Kong International Arbitration Centre, and the Singapore International Arbitration Centre (SIAC).


International Commercial Law Firms

Baker & McKenzie is the world's leading global law firm for dispute resolution and international arbitration. Visit the law form website at Baker & McKenzie: Fluency In The Way We Think, Work and Behave



Proskauer Rose LLP is an international litigation and dispute resolution global law firm. Proskauer Rose will help you with managing, resolving, and avoiding cross-border business or regulatory disputes. Visit the law firm website at Welcome - Proskauer on International Litigation and Dispute Resolution



Clyde & Co is an international commercial law firm with expertise in trade and insurance and. Clyde & Co's 200 litigation lawyers are well experienced in arbitration and they work with ease across a wide range of industry sectors and jurisdictions. Visit Clyde & Co at:
International arbitration, Clyde & Co international law firm



Mayer Brown's international arbitration practice plays a leading role in the resolution of international disputes. Mayer Brown's international arbitration practice is comprised of over forty lawyers located in the world's major business centers in the US, EU and Asia. Mayer Brown's frequently represent corporations, partnerships, financial institutions, insurers and governmental entities before the leading international arbitration bodies. Mayer Brown's also advise our clients on how to reduce risk when entering into cross-border transactions and investments. Visit the company website at: Mayer Brown - International Arbitration



Simmons & Simmons law firm strength is in international arbitration in Europe, the Middle East and Asia and the firm is recognised by the international arbitration community. Visit the law firm website at: Simmons & Simmons: Worldclass legal advice

The Book:

The Asian Leading Arbitrators' Guide to International Arbitration

by Michael Pryles and Michael Moser, Editors

Price: $150.00 580 pages. 1 Hardcover Volume. Index. Published October 2007.
ISBN-13: 978-1-933833-11-8 / ISBN-10: 1-933833-11-4


About the Book:

The essays in this volume, prepared by a virtual “who’s who” of the leading arbitrators in Asia, present a unique insight into arbitration practices and procedures in the world’s largest and fastest growing region.

This book offers thoughtful advice and insights into the world of international arbitration in Asia from some of the most prominent and experienced international arbitrators in the world. The contributors are arbitrators from Brunei Darussalam, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, United Kingdom and the USA.

The contributors offer insights and advice on the way in which international arbitrations are carried out from the point of view of arbitrators reading pleadings and memorials and listening to witnesses and hearing arguments. The authors' discussions are intended to be thoughtful, insightful and useful - and perhaps, occasionally, iconoclastic. As a result, there may be instances in which the authors disagree with one another on certain points. This is to be expected for there are often many routes that can be taken to achieve a result.

The book will be useful not only to persons who may serve as arbitrators in international arbitral proceedings but also to those who may, in their position as advocates, wish to persuade persons - including, perhaps, the authors.


The Asian Leading Arbitrators' Guide to International Arbitration

The Book:

Comparison of International Arbitration Rules - 3rd Edition
Simpson Thacher & Bartlett LLP

Price: $150.00 300 pages. 1 Hardcover Volume. Index. Appendices. Published September 2008
ISBN-13: 978-1-933833-19-4

A subscription/standing order is entered for each title you purchase, unless we are otherwise notified.


About the Book:

This chart comparing the provisions of the leading sets of international arbitration rules was first created by the International Arbitration Group of Simpson Thacher & Bartlett as an internal reference tool. The Comparison of International Arbitration Rules 3rd Edition will be of great use in four distinct areas of international arbitration practice. First, in assisting clients in selecting arbitration rules and drafting arbitration provisions for their international commercial contracts. For example, where a client seeks to include a provision governing a specific procedural issue in an arbitration clause, the chart provides easy reference to the different provisions used in the leading sets of international arbitration rules. Second, the chart has served a similarly useful function in connection with advice that might be provided to foreign governments in preparing their national legislation concerning international arbitration. Third, the chart will assist in developing arguments on procedural issues in connection with representation of clients in international arbitration proceedings. Finally, comparison will facilitate evaluation by scholars, practitioners and the institutions themselves of the desirability and effectiveness of particular provisions in light of comparable ones. By publishing this chart, the authors hope to share these benefits with users of international arbitration, practitioners, legislators and academics alike.

The authors considered various factors in deciding which sets of international arbitration rules to include in the chart. The International Chamber of Commerce (“ICC”), American Arbitration Association/International Center for Dispute Resolution (“AAA/ICDR”), London Court of International Arbitration (“LCIA”), Stockholm Chamber of Commerce (“SCC”) and International Center for Settlement of Investment Disputes (“ICSID”) rules are included as leading sets of institutional international arbitration rules. Other institutional arbitration rules are not included simply for reasons of manageability and space. The international arbitration rules of the United Nations Commission on International Trade (“UNCITRAL”) and the Center for Public Resources (“CPR”) are included as the preeminent sets of ad hoc international arbitration rules.

In this third edition, the authors have made three principal changes. First, they have updated the chart to reflect amendments made since 2002 to the sets of rules included. Second, they have added the ICSID arbitration rules, which are increasingly being used for investment disputes under bilateral investment treaties. There have been corresponding revisions to the Index of topics to facilitate locating subjects in the rules, as well as the Appendices containing the full texts of the sets of arbitration rules included in the chart.

Whether you are drafting an agreement or selecting procedures or a site, this unique time saving tool will simplify your task.

Comparison of International Arbitration Rules - 3rd Edition