By Innocent Anaba

A Senior Advocate of Nigeria, Prof Gabriel Olawoyin, yesterday, said that the gains in the use of arbitration were far more than that of litigation in the resolution of business disputes.

Prof Olawoyin, also Chairman of International Chamber of Commerce, ICC, Nigeria, who addressed newsmen in Lagos, on the planed launch of the ICC Revised Rules of Arbitration 2012, slated for Lagos on May 30, noted that “The importance of the dispute resolution role of the ICC Court and its impact on the growth and development of international trade and commerce cannot be over emphasized. Disputes are inevitable in trade and commerce, hence the need to have in place effective and expeditious means of resolving them.”

He added that “In view of the reluctance of parties to submit to courts in unfamiliar jurisdictions, arbitration has proved a viable solution in ensuring private alternative means of resolving disputes before judicial bodies usually chosen by the parties and outside the local court system. The ICC Court provides a system of resolving international disputes under the auspices of an international body and allows disputes to be conducted in different jurisdictions.”

According to him, “The Rules launch will provide an excellent opportunity for those interested in gaining knowledge of arbitration and alternative dispute resolution. It will also ensure that the provisions of the 2012 Rules are given the widest publicity within our jurisdiction.

“Changes made to the 1998 Rules will be highlighted. The following areas will be focused on: general provisions on the arbitral tribunal; improving time and costs efficiency; emergency arbitrator provisions and multiparty contract arbitration and consolidation.”

He pointed out that “The ICC Court is not a “court” in the ordinary sense. It is not like an ordinary court in the sense that it does not pronounce any judgment on parties to a dispute. It essentially performs administrative and supervisory roles in ICC arbitrations. It oversees the entire process right from the time a request is made by the claimant to the time an award is released to the parties.

“The decision on any dispute is basically a matter for the arbitral tribunal and such decision is final and binding on the parties. ICC arbitration has grown to be very popular for various reasons including the availability of competent arbitrators who specialize in the subject-matter of the dispute, the confidentiality of the proceedings, the relative speed in the disposal of cases and the international recognition of arbitral awards by virtue of the New York Convention of 1958.

The role played by the ICC Court in scrutinizing awards without affecting the arbitral tribunal’s liberty of decision is an added attraction of the ICC system. “The work of the ICC with respect to dispute resolution is essentially carried out through the International Court of Arbitration and the Arbitration Commission.