What Is the Major Difference Between Domestic and International Arbitrations

question 28

Multiple Choice

What is the major difference between domestic and international arbitrations?

• A) The arbitration rules differ between the arbitration organizations.
• B) International arbitration awards have wide enforceability in many countries.
• C) International arbitration awards have limited enforceability in many countries.
• D) American courts do not recognize the validity of international arbitration.

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Definitions:

Fixed Costs

Overheads like rent, salaries, and insurance that stay the same, irrespective of how much is produced or sold.

Break-Even

The point at which total costs equal total revenues, resulting in no net loss or gain for a business.

Variable Cost

Costs that vary directly with the level of production or volume of output.

Fixed Costs

Costs that do not change with the level of production or sales, such as rent, salaries, and insurance premiums, providing a basis for operational planning.