NAFTA - RESOLVING INTERNATIONAL PAYMENTS CONFLICTS

Traditional methods of dispute resolution are often inappropriate in t his world of global marketplace expansion and volatile economies. Liti gation can be both time consuming and expensive. One party is always a stranger forced to litigate in a foreign country under foreign rules. Far more preferable is ADR, says the author. There is a high degree o f international recognition and enforcement of the process and the neu trality of the panel is more certain. The North American Free Trade Ag reement (NAFTA) contains significant provisions that encourage the use of alternative mechanisms for the resolution of commercial trade disp utes.