{"@context":"https://schema.org","@type":"DefinedTerm","name":"arbitration","description":"When a contractual dispute arises in international trade, parties frequently turn to arbitration rather than litigating before national courts – typically because their contract already contains an arbitration clause. Proceedings are governed by established institutional rules, such as those of the ICC, UNCITRAL, or the LCIA: the parties appoint arbitrators, exchange written submissions, and ultimately receive a binding award. That award is enforceable across most jurisdictions under the 1958 Ne","inDefinedTermSet":{"@type":"DefinedTermSet","name":"Frachtportal Logistics Glossary","url":"https://www.freight-academy.com/en/glossary"},"url":"https://www.freight-academy.com/en/glossary/arbitration","inLanguage":"en","dateModified":"2026-06-26T17:36:30.458254","citation":"https://www.iccwbo.org/dispute-resolution/arbitration/","markdownMirror":"https://www.freight-academy.com/api/md/glossary/en/arbitration","provider":{"@type":"Organization","name":"Frachtportal","url":"https://www.freight-academy.com"},"quickSummary":"arbitration · When a contractual dispute arises in international trade, parties frequently turn to arbitration rather than litigating before national courts – typically because their contract already contains an arbitration clause. · Quelle: https://www.iccwbo.org/dispute-resolution/arbitration/"}