International commercial arbitration
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4 word format
document in english
international law
presentation
date published 29/08/2006
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level : Advanced
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SummaryInternational commercial arbitration is one of several forms of dispute resolution for international commercial agreements. The use of arbitration has increased along with the growth of international trade and commerce and the accompanying disputes springing from these pursuits. In its broadest sense, arbitration is a vehicle of dispute resolution in which parties to a contract select a neutral arbitrator (or a panel of arbitrators) to present their dispute for a legally binding ruling. Arbitration is often selected for the reasons of confidentiality, speed, enforceability of arbitral awards, and to eliminate the uncertainties in the choice of arbitrator and forum. Parties from different national origins may also be reluctant to accept national court litigation with the potential for national bias. Arbitration offers the parties more control over how proceedings will be conducted. Arbitration awards are, with rare exception, final and binding.
Table of Contents- Definitions, competence and power.
- Definitions of arbitration.
- Definition of international commercial arbitration.
- International agreements, conventions, and treaties.
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