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Is this for an essay please?
YES. IT IS FOR AN ESSAY AND I WOULD BE GRATEFUL IF YOU COULD GIVE ME AN ANSWER TODAY1
I am not going to write the essay for you, I can give you pointers - is that ok?
Jurisdiction is important because clearly where the dispute is litigated is important.
This is because if for example its in the UK the award may be different to that of Germany.
Clearly it is easier to litigate as a UK national within the UK.
If you do this abroad it will be costly as you need a UK/foreign lawyer and they can be expensive.
Therefore if the jurisdiction is in the UK and the contract is governed by the UK then it makes a big difference to the cost of litigation.
As to arbitration then this is an agreement between the parties to be bound by a non court process
This means it goes before a Chair who will hear the case and make a decision
Once the parties agree arbitration and the decision is made, one party can't pursue it then in Court.
So it makes a difference in that arbitration is a non Court process
Can I clarify anything?
No, thanks. And thanks for the assistance.