23 Legislation seeks to remove potential disparities and inconsistencies that may arise from the application of different legal systems regarding similar disputes. This ensures that parties involved in international transactions can operate with confidence, knowing that disputes will be resolved under a modern and internationally recognized legal framework. The New Law generally allows ongoing arbitration proceedings initiated before its enactment to continue under the previous legal framework. This ensures continuity and stability for ongoing disputes, allowing parties to proceed with arbitration without disruption. Consequently, the New Law strives to balance between preserving the continuity of ongoing arbitration proceedings and promoting a forward-looking regulatory environment that aligns with the evolving dynamics of international standards. The New Law not only ensures certainty and predictability for the parties engaged in arbitration but also provides a sense of trust in Israel’s legal system as a reliable forum for dispute resolution. Online Arbitration in Israel The increasing global reliance on technology enhances the potential of online arbitration as a tool to advance Israel as a leading international arbitration hub. By incorporating online dispute resolution (ODR) platforms into its arbitration framework, Israel can offer innovative solutions suitable to the evolving needs of the business world. These platforms offer enhanced flexibility, lower costs, and reduced delays, making arbitration more accessible and efficient for both domestic and international parties. Furthermore, the adoption of ODR has the potential to significantly increase the application of the New Law. By offering a more accessible and userfriendly framework, ODR can encourage businesses that might otherwise avoid arbitration due to logistical or cost concerns to engage in this efficient dispute resolution mechanism. Embracing digital innovation enhances Israel’s attractiveness as a leading forum for resolving cross-border disputes, aligning with global trends and the expectations of the international business community. Comparative Analysis of International Arbitration Laws
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