Resolution of commercial disputes through arbitration as a contributor to improvement of business environment in Serbia

Abstract

The paper presents a brief overview of selected arbitration-related issues (legal framework for arbitration, different types of arbitration, arbitration agreement, arbitrators, seat of arbitration, law applicable to the arbitration proceedings and merits, arbitration award, costs), in light of contemporary arbitration trends and practices and with special emphasis on Serbian legislation and existing arbitral practice in Serbia. Furthermore, it provides readers with drafting considerations when agreeing to arbitration, and comparative analyses of advantages and disadvantages of arbitration, as dispute resolution mechanism which can, in authors' view, significantly contribute to reduction of transaction costs and overall improvement of business environment in Serbia.