Arbitration is the administration of justice by arbitrators. The Netherlands Arbitration Institute offers fast, effective arbitral proceedings. Average NAI arbitration takes approximately nine months from request to final award. Awards are binding on all parties. Arbitration replaces proceedings before the court.
An arbitration agreement is required if one is to submit a dispute to arbitrators for settlement. This arbitration agreement may be included in an arbitration clause of a contract. In that clause, the parties agree to submit any future disputes to arbitration. The Netherlands Arbitration Institute has created a recommended clause for this purpose. Its wording has proven in practice to cause the least amount of difficulties. If a dispute arises and the parties have not yet arranged for arbitration, they may do so as yet. The arbitration agreement is then laid down in a submission agreement.
The key advantages resulting from inclusion of the NAI arbitration clause in an agreement are as follows:
The most important task of the Netherlands Arbitration Institute is to administer arbitration. The NAI monitors the arbitral proceedings from the moment that proceedings are commenced until the arbitral award is made and sent to the parties. The NAI’s lawyers specialise in the fields of national and international arbitration law. Independence and confidentiality are important factors. For example, the NAI, as an independent administering body, would never discuss the content of a case. NAI awards are not made available to third parties for inspection, nor does the NAI provide third parties with information on pending or formerly pending arbitration. A number of awards are published anonymously in the Tijdschrift voor Arbitrage arbitration journal, provided that the parties do not object. The NAI is a non-profit foundation.
Since all proceedings are customised, it is not possible to provide a detailed cost estimate in advance. A more detailed description can be found under Arbitration - Costs.