We are pleased to share with you the success of the conference “For a Culture of Arbitration at the COIIM” which took place on 20 June 2023 at the headquarters of the Official College of Industrial Engineers of Madrid (COIIM). Our arbitration expert, Javier Martínez, gave an enlightening presentation on the use of arbitration as an alternative method of conflict resolution, on the valuable work of the COIIM Court of Arbitration in this field and on the importance of incorporating arbitration clauses within the field of industrial engineering.
During the presentation, the numerous advantages of arbitration over ordinary jurisdiction were explained in detail, highlighting its greater speed. Arbitration before the COIIM Court of Arbitration offers significantly shorter resolution times than the 41.3 months on average offered by ordinary jurisdiction. The possibility of endowing the arbitration procedure with complete confidentiality was also highlighted, preventing third parties outside the dispute from becoming aware of both its existence and the content of what is being discussed.
Furthermore, the services provided by the COIIM Court of Arbitration were explained in great detail, characterised by offering an efficient arbitration procedure in equity – unless the parties agree otherwise – with very moderate costs and with a very high level of specialisation of its arbitrators. Specifically, these arbitrators are required to be practising industrial engineers, members of the COIIM and in full exercise of their civil rights, with a minimum of twenty years of uninterrupted professional practice and without any sanction on their professional record. This rigorous selection ensures that the arbitrators have vast experience and a high level of professional integrity, thus providing greater confidence in the arbitration procedure.
In other words, arbitration before the COIIM allows two or more parties involved in industrial engineering to resolve their disputes in-house. These disputes are characterised by a high and complex technical and expert component, and the fact that they are resolved by someone who speaks the same language considerably minimises legal costs and improves understanding and efficiency in the resolution of conflicts, by eliminating misunderstandings and facilitating more direct and effective communication between the parties involved.
Likewise, during the presentation, an exhaustive description was given of the arbitration proceedings before the COIIM Court of Arbitration from start to finish. The development of each of the four main phases was explained: the preliminary phase (presentation of the request for arbitration and its response), the appointment of arbitrators, the pleadings phase (presentation of pleadings and evidence) and the award phase (identifying its minimum content).
In short, it was noted that the COIIM and its Court of Arbitration are firmly committed to the alternative resolution of business disputes in general and to arbitration in particular, offering a service of the highest quality and specialisation which in turn significantly reduces the financial cost and speeds up resolution times.
Finally, the model arbitration clause provided for in the COIIM Court of Arbitration Regulations was analysed in detail, explaining each and every one of the elements that make it up. We also warned of the risks of not opting for model arbitration clauses and, instead, trying to design an arbitration clause from scratch, without taking into account the procedural risks and costs that this may entail in the event of a dispute.
For those who could not join us live, we invite you to watch the video of the presentation.
