The Role of Arbitration in Settling International Business Contract Disputes in Indonesia
Keywords:
Arbitration, Dispute Resolution, International Business Contracts, Indonesian Law, Harmonization of LawAbstract
Arbitration has become an important dispute resolution mechanism in international business con-tracts, primarily due to its flexibility, neutrality, and ability to provide legal certainty. In Indonesia, the role of arbitration is regulated by Law Number 30 of 1999 concerning Arbitration and Alterna-tive Dispute Resolution, which adopts the basic principles of the 1958 New York Convention. Alt-hough arbitration offers various advantages, its implementation in Indonesia faces several significant challenges, including uncertainty in the enforcement of foreign arbitral awards and the harmoniza-tion of arbitration law with international standards. This study analyzes the advantages and disad-vantages of arbitration in the context of Indonesian law, and explores efforts to harmonize arbitration law in Indonesia with global standards. The results of the study indicate that although there is a supportive legal framework, it is necessary to increase the capacity, professionalism of arbitrators, and commitment to law enforcement to strengthen the role of arbitration in resolving international business disputes in Indonesia.
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