Arb-Med-Arb: Save time and money in international commercial and intellectual property arbitration

Abstract

Time and money were the main objections to arbitration for disputes involving claims below $10 million in construction, according to Queen Mary, University of London’s 2019 International Arbitration Survey. Respondents considered arbitration too costly and time-consuming and that this was a barrier to justice and a fair resolution of the dispute. Can anything be done about this state of affairs? The answer is a resounding yes: The so-called Arb-Med-Arb (Arbitration-Mediation-Arbitration) method can shorten the duration of an arbitration, particularly one involving international commercial or intellectual property,
thereby saving costs. However, this practice is neither widely known nor used. Here, I wish to remedy this situation and show which significant steps should be taken to popularise this time-saving method.