PECULIARITIES OF EXPEDITED ARBITRATION PROCEDURES IN DIFFERENT JURISDICTIONS

Abstract

Introduction. The peculiarities of expedited arbitration processes in different jurisdictions are examined in this article, with an emphasis on how nations are modifying their arbitration laws to satisfy the growing need for quick and affordable dispute resolution in a world economy that is becoming more interconnected by the day. With the ability to settle conflicts more quickly while upholding the fundamental values of justice and openness, expedited arbitration has become a competitive option to regular arbitration. The purpose of the article is to identify the peculiarities of expedited arbitration procedures in different jurisdictions and to analyze the specifics of the impact of expedited arbitration proceedings on the arbitration process.

Summary of  the  main  results  of  the  study. The article explores the institutional practices, procedural variances, and legal provisions that define accelerated arbitration in important jurisdictions, such as the US, UK, France, Sweden and a few emerging countries. The article uses a comparative study to illustrate the advantages and disadvantages of expedited arbitration, including the possibility of shorter timeframes and costs vs issues with party autonomy and due process. The article also looks at how technology might improve the effectiveness of accelerated arbitration procedures, from virtual hearings to electronic submissions, and how these advancements can lessen some of the more conventional difficulties in resolving disputes. It also discusses the dangers of expedited arbitration, including the restrictions on evidence and the pressure on arbitrators to render decisions quickly, which can occasionally jeopardize the process's thoroughness.

Conclusion. The article's conclusions are intended to provide important insights into accelerated arbitration best practices and the required improvements that could increase its efficacy. In the end, the conversation serves as a resource for practitioners, legislators, and academics interested in the changing arbitration landscape by offering a framework for comprehending regional legal cultures and procedural standards. In a world market that moves quickly, this article emphasizes the importance of expedited arbitration as a vital instrument for promoting international investment and commerce.