Selected Issues of Arbitration as Affective Tool for resolving Business Dispute

Abstract

Arbitration has become more important as a tool for solving the disputes between entrepreneurs and between consumers. The arbitration proceedings on the one hand, it is a quick and less formal way how to solve disputes between entrepreneurs, which may be an advantage even in the emphasis on greater expertise, as the arbitrator may not always be a lawyer, but an expert in the field that is the subject of the dispute. On the other hand, some arbitration disputes between consumers which are negotiated on the basis of an arbitration clause with an ad hoc arbitrator and a consumer are subject to criticism on the grounds that one contractor (entrepreneur), such as a credit provider, charges the other party (consumer) , which decides to claim on the basis of a contract. However, this contract (on a loan, credit, etc.) is to the detriment of the consumer and the text of this contract and the selection of the arbitrator is decided by the entrepreneur and the consumer has no effect. The aim of this paper is to point out these in all different contexts.