While institution arbitration is more costly than ad hoc arbitration, a survey of international arbitration users in 2015 found that 79 per cent of the arbitrations they were involved in over the previous five years were institutional arbitrations. There are several reasons for this preference for institutional arbitration. An institution can lend political or moral weight to awards. More practically, because institutional rules are designed to regulate the proceedings comprehensively from beginning to end, the institutions are better suited to cater for contingencies that might arise, even if (as sometimes happens) a party fails or refuses to co- operate.
Here, Dr. Marie-Camille Pitton of the Caribbean Centre for Arbitration and Conciliation, and CADRIn co-founder, Shan Greer, discuss the critical role of institutions in the effective administration of arbitration and how parties can maximise institutional services.
CADRIn Conversations is a series of podcasts where we discuss aspects of mediation, arbitration and other forms of alternative dispute resolution (ADR) with Caribbean regional and international experts. Please follow our Soundcloud page for updates.
Contributor: Dr. Marie-Camille Pitton
Dr. Marie-Camille Pitton is a Harvard, Oxford- and Sorbonne-educated French arbitration counsel with over a decade of
experience in international arbitration and litigation. Most recently, Dr. Pitton has been engaged in the promotion of international arbitration as a tool for regional integration and economic development in the Caribbean through the Organisation for the Harmonization of Business Law. She is currently overseeing the creation of a new arbitration center called the Caribbean Centre for Arbitration and Conciliation, which will service the entire Caribbean region.