Importance of the Choice of the Place of Arbitration
Luka Kristovic Blazevic
An important advantage of arbitration is the flexibility and freedom that the parties enjoy as regards the arbitral procedure, including in particular in connection with the choice of the place or seat of arbitration. As this choice can have important legal consequences on the arbitration, the parties should exercise it carefully, taking into account several factors such as, most importantly, the legal infrastructure at the place of arbitration. Considering this factor as well as other more practical ones, parties will be able to select the ideal place of arbitration for their matters, which might include one of the generally preferred places of arbitration or one of the new "runner-ups".