The Effectiveness of Alternative Dispute Resolution Mechanisms in Resolving Commercial Disputes

Authors

  • Stipan Vagenhofer

Abstract

Alternative dispute resolution (ADR) mechanisms have gained popularity in recent years as an efficient and cost-effective way to resolve commercial disputes. This article examines the effectiveness of ADR mechanisms, including mediation, arbitration, and negotiation, in resolving commercial disputes. It reviews the benefits and drawbacks of ADR mechanisms and compares them to traditional litigation. The article also examines the factors that influence the choice of ADR mechanisms and their effectiveness in different types of commercial disputes. Finally, the article discusses the future of ADR mechanisms and their potential to address the challenges of the digital economy and cross-border disputes.

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Published

2023-03-10

Issue

Section

Articles