Our arbitral awards are binding in 146 countries because they comply with the 1958 Convention of New York. For private commercial disputes, governments have given up their jurisdictional monopoly a long time ago and I disagree with you that this is a bad thing.
Ok. Say I have a client that does not want to pay me. I live in France, the client is in Japan. Contract signed under the Japanese law. Let's supposed we had chosen you for arbitration. I win the arbitration but the client refuses to comply. What happens ?
You buy an Affidavit of Arbitration from us (costs $35) and than ask the a court in any jurisdiction where the losing party has assets to recognize and enforce your award.
Most jurisdictions will add the cost of court recognition to the amount of assets to be seized.
1. Sure, it is much faster than getting a court involved but I think that in most case where you intervene, an agreement would have been reached without going to court either.
2. That just means that you found 146 countries where a breach of contract is illegal.
3. How do you measure the 96% ? I am doubtful of such a high statistic. Do you provide legal help if going to court is necessary to enforce the arbitration ? With such a high rate of success, it would be profitable for you and be really helpful.
My basic claim is that your service is indeed cheap but is logically probably worth little more than what you charge. Going into court is much more expensive and I doubt that you really can avoid such an event.
