Tag #Commercial Courts

What is the significance of the DIHK's new arbitration court for German businesses and the international legal landscape?

The German Industry and Commerce (DIHK) launched a new arbitration court, aiming to bolster Germany's position as an arbitration hub and offer businesses a cost-effective alternative to civil lawsuits. This initiative provides businesses with tailored conflict resolution through arbitration, potentially including mediation for faster results. The court's structure adjusts based on the dispute value, using one arbitrator for claims under €250,000 and three for larger claims.