Asked by Brayan Patlan on Jun 01, 2024
Verified
By means of an arbitration clause , the parties to an international business contract agree in advance to resolve any dispute without involving a third party.
Arbitration Clause
A provision in a contract that requires disputes between the parties to be resolved through arbitration rather than through litigation in court.
- Comprehend the mechanisms for resolving international business disputes, including arbitration and judicial decisions.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
False
Explanation :
An arbitration clause in an international business contract does indeed involve a third party, the arbitrator or arbitration panel, to resolve disputes rather than resolving them through traditional court litigation.
Learning Objectives
- Comprehend the mechanisms for resolving international business disputes, including arbitration and judicial decisions.