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Arbitration in Banking and Finance: Research, Uptake Trends, ISDA and P.R.I.M.E. Finance, Brexit Enforcement Issues, Barriers, and ADR Clause Drafting

Published on: 26 November 2020

Published by a LexisNexis Banking & Finance expert

Legal News

Article summary

Why did you set up the Arbitration in Finance project, and what do you hope to achieve?

KPB: The initiative unites the Institute for Banking Law with the University of Cologne’s Centre for Transnational Law. We set out to assess the potential of alternative dispute resolution (ADR) — in particular arbitration and mediation — to secure more time- and cost‑efficient outcomes in business‑to‑business conflicts within banking and finance. We also aim to deepen market understanding of arbitration’s benefits, especially as financial markets and products become ever more complex and sophisticated...

Why is arbitration a good solution for solving disputes in the financial services sector?

KPB: Banks and other financial institutions have traditionally been cautious about adopting arbitration and related ADR mechanisms. However, many of the grounds for that caution no longer hold true. This is evidenced, for example, by the 2016 Report on Financial Institutions and International Arbitration from the Commission on Arbitration & ADR of the International Chamber of Commerce, Task Force on Financial Institutions and International Arbitration. Arbitration is increasingly favoured in emerging markets, as it gives parties a...

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