국제상사분쟁해결방법으로서의 국제중재에 관하여 — 실무적 절차의 흐름과 장단점을 중심으로 —

Among the methods of international commercial dispute resolution, international litigation and International arbitration might be said as the most commonly-used ways. If parties of international contracts would make arbitration agreement to resolve future disputes through arbitration, an arbitral tribunal consisting of neutral and fair arbitrators chosen by the parties can carry out the function of the private court instead of the national court. And the resulting arbitral award can be recognized and enforced internationally due to “the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards”, so-called New York Convention, which might be said to be a great advantage. This article deals with the arbitration agreement and the selection of arbitral seat and arbitral institution(Ⅱ), the initiation of arbitral process and the selection of arbitrators(Ⅲ), the overview of the arbitral process from procedural consultation, setting of the procedural timetable, submission of the written arguments, the documents production, hearing inclusive of witnesses and experts testimony to the arbitral award according to the flow of the practical procedure(Ⅳ), the main points of the annulment, recognition and enforcement of arbitral awards(Ⅴ), and the pros and cons of international arbitration. While international arbitration cannot be said to be the perfect way at all, it can rightly be evaluated to afford parties more practical, efficient and neutral dispute resolution than any other means of dispute resolution, especially in avoiding the national court which has closer relation to the one side of the parties. In reality one cannot but choose between international litigation and International arbitration, considering the case at hand and the pros and cons of international litigation and international arbitration respectively.