|Institution:||Women University Swabi|
|Keywords:||Alternative Disputes Resolution, Contractual perspective, European Union, Mediation Clause|
|Full text PDF:||http://https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3892022|
The Alternative Dispute Resolution procedure provides an amicable settlement mechanism with the assistance of independent or so-called neutral professionals to resolve conflicts between the contracting parties. Alternative dispute resolution has become increasingly relevant in today’s world, and the number of agreements involving alternative dispute resolution provisions is steadily growing. Alternative dispute resolution is typically more efficient and time-saving than conventional court litigation, which is one of the causes for its development. The current research explores European Union mediation’s most common alternative dispute resolution strategy. It is mainly concerned with the mediation of legal and commercial conflicts. The research discusses European Union alternative dispute resolution patterns and associated requirements under the European Union statute, the United Nations Commission on International Trade Law Model Law on International Commercial Conciliation (2002), as well as other laws defined by alternative dispute resolution related organisations such as the International Chamber of Commerce and Effective Dispute Resolution Centre. It also draws parallels between the United States of America and the courts of some Member States of the European Union regarding alternative dispute resolution matters. Furthermore, it finds alternative dispute resolution in the sense of the right to adequate remedies (fundamental principle of the European Union). The study further explores the roots of alternative dispute resolution, its features and applicability, and the benefits of alternative dispute resolution over litigation/arbitration procedures, both of which tend to facilitate alternative dispute resolution’s broader use of business dispute resolution procedures. The qualitative research methodology will be applying for this research.