Contributor by AMO Lawyers
Written & Drafted by : Wulan Prameswari, S.H and Marco Kumar, S.H
Reviewed by : Noverizky Tri Putra, S.H., LLM (Adv)
Indonesia is one of the biggest developing country in the world and now focus to make policies which give huge opportunity for foreign investor to invest their money in Indonesia, however this situation has created a new challenging problem like law issues between Indonesia and foreign company specifically related business dispute. Related with such one of the most interesting legal concern in terms of business dispute is arbitration regarding such Indonesia already provide a law system which is consider as an alternative dispute resolution under Arbitration and Alternative Dispute Resolution Act No 30/1999 (ADR Law)
Arbitration has lot a advantages compared to the litigation common practice. this include, undisclosed process, shorter process time, and final award without appeal. These are the reason why investor prefered to choose arbitration process rather than litigation process to solve their legal matter especially for business law dispute.
The Definition of International arbitration based on article 1 number 9 in Arbitration and Alternative Dispute Resolution Indonesia Act No 30/1999 “is a verdict which imposed by an arbitration institution or personal arbiter outside Indonesia Law territory, or a award imposed by arbitration institution or personal arbiter which under Indonesia law is considered as an International Arbitration Award”.
In this article, we will discuss about 3 common issues on implementation of international arbitration in Indonesia and the impact for foreign company towards the final Arbitration Award.
More on attachment below....