You may have often heard about commercial disputes and lawyers who specialise in resolution of commercial disputes. But what exactly is this commercial dispute and how does one resolve the same.
Understanding the meaning of commercial dispute:
The commercial dispute relates to any material dispute. It can be related to any industry. This is a broad term and it can relate to disputes relating to any type of business. It can include breach of contract, disputes between partners, issues with respect to shareholders etc.
Ways and means of resolving commercial disputes:
When we talk about any kind of dispute the first thing that comes to our mind is going to court to resolve the matter. Even in the case of commercial and business-related disputes, one can always approach the court. But before going to court it is always better to try to find some other ways of resolving the matter.
Many people check out for out of court settlement with the help of an arbitrator who will take into consideration all the aspects. The arbitrator will try to give a solution which is mutually acceptable to both the parties. Before going to the arbitrator both the parties can try to find an amicable solution. If that is not possible then they need some legal authority that can intervene and give a solution to the issue. Though this is a cost-effective and time-saving option some people may not want to opt for the same as there is no chance of appealing in the higher court. In the legal option even if you lose the case you can always appeal in the higher court.
Which path you must choose?
Now the question is choosing the right way to resolve the matter. Honestly speaking this will vary from case to case basis. In some cases, it may be best to opt for the option of arbitration whereas in some cases the only way that you have is to approach the court of law. This can be a very confusing thing and one may not be able to make the right choices.
It is therefore, better to approach a good lawyer who has in-depth knowledge about commercial disputes. He will study all the details of the case and will decide if it is possible to opt for the option of resolving the matter with a mutual agreement or you need to fight the case in the court. He will weigh all the pros and cons and will provide the best advice.
Choose only an expert :
Keep in mind that commercial litigation cases can be of very complex nature. It is therefore, important to make sure that you choose an expert from Essex Court Chambers Duxton. They are a group of lawyers who are known to have expertise in different areas including commercial dispute resolution.
Next time you are facing a commercial dispute issue all that you need to do is take advice from the best lawyer who will provide the best solution.