Vasilis F.L. Pappas and George M. Vlavianos co-author "
Multiple Tiers, Multiple Risks – Multi-Tier Dispute Resolution Clauses in the International Bar Association's
Dispute Resolution International. Multi-tier dispute resolution provisions have become commonplace in arbitration clauses around the world. These provisions provide that parties must undertake certain steps prior to commencing arbitration in an effort to resolve their disputes. Their objective is to ensure that parties only resort to arbitration once all efforts to settle have failed. Yet, while these provisions are popular and widespread in arbitration clauses, there are substantial risks associated with them. This article examines these risks and proposes solutions that can be deployed by transactional lawyers and arbitration practitioners to minimise them.
Bennett Jones