The out-of-court process of arbitration has become a faster and less expensive way to resolve contractual disputes. It has also become an important stream of revenue for many law firms in South Florida. Internationally, this trend has also become more frequent. International Litigation and Arbitration Partner Adolfo Jimenez discusses how Miami has become a central location for this type of mediation.
“International arbitration matters have increased six-fold in the last 10 years and three-fold in the last five years,” Mr. Jimenez said. “The average amount at issue doubled between 2003 and 2008, and quadrupled in the last five years."
READ: Arbitration Cases a Growing Revenue Stream for Law Firms
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