Arbitration is a procedure in which the dispute is submitted, by agreement of the parties, to one or more arbitrators who issue a binding and enforceable award under both national arbitration laws and international treaties such as the New York Convention of 1958. By deciding to use mizan Institutional Arbitration, the parties choose a private dispute resolution procedure instead of a court procedure.
The mizan Arbitration Rules as agreed upon by the parties in a dispute are intended to provide an institutional framework for a transparent, efficient and ethical resolution of the dispute. It provides the parties to a dispute with some flexibility in the procedure and sets out the precise scope of intervention of the mizan Arbitration Court and its secretariat.
Parties to a dispute may also opt for a more flexible and expeditious procedure by adopting the mizan Expedited Arbitration Rules or resort to a fully electronic procedure by submitting the resolution of their dispute to the mizan Arbitration Platform.