Search result for “arbitration”
Today, arbitration is one of the popular dispute resolution forums chosen by business actors on a local and international scale. As stated in Law No. 30 of 1999 concerning Arbitration and Alternative Dispute Resolution ("Arbitration Law"), arbitration is a method of settling civil disputes outside the general courts based on an arbitration agreement made in writing by the parties to the dispute. In line with its nature and characteristics that prioritize effectiveness in dispute resolution, the arbitration forum is widely chosen by business actors because it is considered effective from various aspects that prioritize the following matters: (1) Confidentiality, where the examination of arbitration cases will be carried out in a closed and limited manner only for the parties to the arbitration agreement, which means that the confidentiality of the parties to the dispute will be protected, so that it does not have a negative impact on the parties to the case, in terms of protection of trade secrets (trade secrets) and the reputation of the parties which is not covered by the media; (2) Party autonomy, which gives the parties to the dispute the freedom to agree to determine the arbitration procedure that is considered the most effective for the parties, such as the language used, the governing law, and the arbitrator they will choose according to the choice and expertise of the arbitrator; and (3) A final and binding award, which means that the arbitration award is final and binding, so that there are no appeal, cassation, or motion to reconsider, which makes the examination of arbitration cases faster and more effective which, on average, takes no more than 6 (six ) month.
On May 28, 2020, BANI issued Decree Number 20.015/V.SK-BANI/HU concerning the Rules and Procedures for Electronic Arbitration ("Electronic Arbitration Decree") signed by the Chairman of the Governing Board of BANI M. Husseyn Umar, SH FCBArb, FCIArb.
Di era tanpa batas saat ini, sudah menjadi kebiasaan bagi para pelaku bisnis di seluruh dunia untuk melakukan transaksi bisnis dengan pihak dari sistem hukum, latar belakang dan budaya yang berbeda dari negara lain. Dalam transaksi bisnis tersebut, bisa terjadi sengketa yang tidak terelakkan mengingat dalam dunia bisnis selalu ada kompleksitas dan keberagaman transaksi yang dilakukan oleh para pelaku bisnis.