ARBITRATION OF BUSINESS DISPUTES WITHIN THE ASIAN ECONOMIC COMMUNITY: CONTEXT INDONESIA AND MALAYSIA

Abstract: Settlement of business disputes by arbitration is the most popular choice for business people, especially in the current MEA era. The focus of the study are: 1.How to process business disputes arbitrarily in Indonesia and Malaysia. 2.How are the prospects related to dispute resolution demands in the era of the ASEAN Economic Community. With the normative juridical approach, the authors find that in the ASEAN region there are several arbitration institutions that deal with arbitration issues including the Indonesian National Arbitration Board in Indonesia and the Kuala Lumpur Arbitration Center in Malaysia. The author proposes the results of the research as follows, there are some differences and similarities in the process of dispute resolution through arbitration between the State of Indonesia and Malaysia from several aspects including aspects: regulation, trial process, decision strength, time and cost. And from the two countries that have the prospect of arbitration settlement in the era of MEA is arbitration in Indonesia by having several advantages in the arbitration settlement process, namely the period and cost of the arbitration process. In conclusion, that the arbitration process in the State of Indonesia has good prospects compared to the Malaysian State, so that it can be used as an example to equalize the arbitration process in the ASEAN region even though countries in ASEAN have different legal systems.

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