Gafta arbitration
When you become a member of GAfTA, you are joining over 2,000 companies in 110 countries.
You will have the opportunity to benefit from the experience of others by sharing best practices and developing relationships with other members.
You can also benefit from GAfTA’s reputation as a trusted global organisation that has been working since 1988 to promote fair trade around the world.
As a member, you can access their arbitration system through which disputes between traders who belong to different associations or groups (such as unions) can be resolved quickly and efficiently through binding arbitration.
GAfTA is an impartial, independent and international body of arbitration experts who specialise in handling a wide range of commercial disputes. They understand the commercial issues that impact your business and can help you resolve disputes quickly and fairly. The GAfTA arbitrators have extensive experience in trading disputes, including complex manufacturing or construction contracts, or claims involving intellectual property rights.
GAfTA is renowned for its high success rate, fast and efficient arbitration process and low cost. Over 95% of cases registered with GAfTA are arbitrated without a hearing, so there is often no need to take time out of running your business to attend the arbitration process.
GAfta will deal with all the paperwork so you can concentrate on running your business.
There is a cost saving associated with GAfTA arbitration. The costs of arbitration through GAfTA are often considerably lower than the cost of litigation. There is also the potential cost saving of avoiding a costly dispute entirely.
GAfTA arbitrations can be conducted without an oral hearing, which means that there will be no need to incur any legal costs related to court appearances or expert witnesses in order to prove your case before it goes to judgment. This makes it much easier for parties who wish not only to avoid lengthy and expensive trials, but who also have no interest in being heard by strangers about their personal lives and experiences.
Farmers around the world have a common enemy: bad trading partners. Whether it’s buyers who refuse to pay, or suppliers whose products are substandard, agricultural producers need a way to resolve disputes and enforce contracts. GAfTA offers them just that.
Gafta has been operating since 1995, providing arbitration services for more than 2,000 companies and 110 countries. With over 3,500 arbitrators on its roster—many with experience in international trade—it is an obvious choice for farmers looking for impartial resolutions without having to resort to litigation in domestic courts.
Arbitration through GAfTA is also less expensive than litigation in domestic courts because there are no court fees associated with filing cases; cases can be arbitrated even if only one party agrees; arbitration decisions are final and binding on both parties; there is no need for representation by legal counsel; cases are not public knowledge (even though they may become public knowledge due to publication of awards by GAfta); and the proceedings are confidential unless otherwise agreed upon by all involved parties prior to commencing arbitration proceedings under GAfta rules or procedures
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