Advantages of Commercial International Judgment and the Role of Regional Judgment Centers in Settlement of Commercial Disputes among Developing Countries

Abstract

International judgment is one of the methods for solving international business and trade disputes whose goal is to fairly solve international business disputes by a neutral institution in the least time with the minimum cost.  In recent years, we have witnessed increased reference to this mechanism and also tendency to including obligatory conditions in international business contracts. On the other hand, opposition of developing countries with this mechanism has decreased considerably. Nonetheless, the circumstances leading to opposition from these countries still persist. In this paper, three areas of international arbitration will be considered to see whether arbitration is an effective mechanism to solve disputes for developing countries. Authority of judges as well as control and monitoring of national courts on international business arbitration, and finally cooperation of regional business arbitration centers under the supervision of the Asian-African Legal Consultative Organization (AALCO) will be considered.