GLOBAL VIRTUAL TRENDS IN INTERNATIONAL ARBITRATION

During the past two years, the virtual methods for dispute resolution in international arbitration, due to pandemic crisis, have become one of the most favoured alternative dispute resolution mechanisms for international contracts and investments. With the increasing international trade & financial & technical collaborations, the global corporations have been devoting considerable time and money in selecting and drafting arbitration clauses to protect their financial involvements as well as confidentiality and proprietary nature of the Technology and Intellectual Property, they share with foreign partners, manufacturers, and distributors. Since the arbitration is usually an autonomous and consensual process, it is imperative to comprehend the latest trends of virtual means as their preferred dispute resolution modality that arouse corporate decisions and preferences when deliberating international arbitration.