The survey showed that the number of companies facing international arbitrations with more than $20 million at stake reached double digits—10 percent for U.S. companies, up from four percent last year.
In this year’s survey, Fulbright asked about disputes that are international in nature. For these cases, arbitration was favored over litigation, at least among U.S. companies: 25 percent chose arbitration; 15 percent chose litigation; and 60 percent said, “It depends.” U.K. companies are split with 23 percent choosing litigation and 20 percent choosing arbitration, with 57 percent saying, “It depends.” Avoidance of a jury, cost-effectiveness, and confidentiality ranked as the top reasons to choose arbitration for international disputes.
“This survey shows that arbitration is a growing choice among attorneys,” said Lorraine M. Brennan, JAMS International managing director. “The increasing popularity of JAMS and JAMS International demonstrates that parties are looking for alternatives, and the JAMS pay-as-you-go-system, coupled with its experienced arbitrators, is viewed as a welcome change from other institutions.”
An independent research firm surveyed nearly 400 participants, including 275 in the U.S., 100 in the U.K. and 17 in other jurisdictions. 82 percent of the respondents identified themselves as general counsel, and 14 percent as heads of litigation. Almost half of the survey participants maintain offices in at least three countries, while 16 percent have offices in 21 or more countries. The companies surveyed were split between public and private and represented sectors like energy, engineering and construction, financial services, healthcare, insurance, manufacturing, real estate and technology.
About JAMS, The Resolution Experts
Founded in 1979, JAMS, The Resolution Experts is the largest private provider of mediation and arbitration services worldwide. With Resolution Centers nationwide and abroad, JAMS and its more than 300 exclusive neutrals are responsible for resolving thousands of the world’s important cases. JAMS may be reached at 800-352-5267.
About JAMS International
JAMS, the premier mediation and arbitration provider in the United States, and ADR Center in Italy created JAMS International in 2011 to provide mediation and arbitration of cross-border and domestic disputes worldwide. JAMS International is headquartered in London, with additional hearing locations in Amsterdam, Milan, New York and Rome. Please visit www.jamsinternational.com for more information.