An Evaluation Of International Arbitration

Arbitration is the submission of a disputed matter to an impartial person (the arbitrator) for decision. Arbitration is typically an out-of-court method for resolving a dispute. The arbitrator controls the process, will listen to both sides and make a decision. Like a trial, only one side will prevail. Unlike a trial, appeal rights are limited.

Arbitration is a method to submit a resolution in an arbitral, rather than a judicial forum. For non-labor issues, arbitration can be a less expensive solution. One example is The Home Owners ' Warranty program. A program which aimed to resolve disputes between homeowners and builders. The program was designed between the Home Owners ' Warranty programs of the National Association of Home Builders. This program started in 1973 as a method of formally resolving disputes through arbitration. The program provided a warranty program, using mediation, and arbitration to resolve differences. Before the warranty program was created, the National Association of Home Builders came to the Federal Mediation and Conciliation Service for advice and assistance on dealing with homeowner disputes. Over the years, the program has expanded across the country through the Magnuson-Moss Bill, assisting the Federal Trade Commission on issuing rules on warranty’s and guaranties. The arbitration occurs while looking at the evidence of a dispute objectively for the best solutions (Barrett, 1985, p. 32).

Kolkey, D. M., Chernick, R., & Neal, B. R. (2012). Practitioners handbook on international arbitration and mediation (3rd ed.). Huntington: JurisNet.

After carefully considering the situation in both plaintiff (Eunice) and defendant (RFYL), arbitration should be an effective Alternative Dispute Resolution in

In evaluating the legality of an arbitration clause, the court examines the nature of the provision as it relates to both irrevocable statutory rights and private agreements between the employer and employee. To invalidate an arbitration provision on the basis of

One of the foundations of arbitration is that awards rendered are final and not subject to appeal before the courts. In this respect, Article 5 of the UNCITRAL Model Law provides for minimal intervention, and says, “In matters governed by this Law, no court shall intervene except where so provided in this Law“. As a result, the grounds upon which a court may set aside an award or refuse to recognize and enforce the same are limited. Article 34 of the Model Law and Article V of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards provide the restrictive grounds for such relief.

Arbitration is the highest level of ADR where parties vest power in third-party lawmakers to decide a conflict. Arbitration method may be legal binding or non-legal binding, compulsory or free and it is commonly used among businesses and their consumers. The arbitrators, who may be a member of a judiciary listens to the evidences and issues an arbitration awards. (Lau & Johnson, 2011, p. 70-74)

Nevertheless, certain categories of ADR have been named and understood to involve the use of particular means and methods to produce the desired end result. These procedures include: negotiation, mediation, arbitration, med-arb, early neutral evaluation, settlement conference and conciliation to name a few. However this essay will concentrate on mediation as a form of alternative dispute resolution.

Conflict is defined as the behaviour due to which people differ in their feelings, thought and/or actions. Collins (1995) states that the conflict is a ‘serious disagreement and argument about something important’ and also as ‘a serious difference between two or more beliefs, ideas or interests’ (cf. Kumaraswamy, 1997, p. 96). In general it is believed that conflicts are the underlying cause of disputes. In other words, dispute is a manifestation of the deep rooted conflict. A dispute is defined as ‘a class or kind of conflict, which manifests itself in distinct, justifiable issues. It involves disagreement over issues capable of resolution by negotiation, mediation or third party adjudication’

With all of these acts and statutes being passed, it seemed as though arbitration was the way to go. But as more and more agreements to arbitrate future disputes were executed, other nonarbitral forms of alternative dispute resolution such as mediation and neutral fact-finding became common.

Arbitration is legal technique used to resolve any disputes outside of the courts. Arbitration allows for speedy and cheap resolution of any disputes, the parties involved in a dispute agree to appoint a third person (arbitrator) who will hear their testimonies, and look into the evidence they provide. The arbitrator's decision cannot be challenged in a law court as it is considered final and the parties involved have to accept the decision (Brams & Merrill, 1986). There are only very limited circumstances where the decision of an arbitrator can be challenged, and this is mostly if there can be proof from one of the parties showing that the arbitrator was biased in their decision or ruling. The chosen arbitrator will be an experienced person in the area of the dispute.

The International Commercial Arbitration process is a means whereby disputes related to businesses involving transnational parties are resolved by using arbitrators instead of taking the matter through a judicial system in the courts. The arbitration process requires that there is an agreement between the parties involvd.This agreement is brought forward by an agreement clause that is usually found in the business contract agreement and decision made is binding (Moses M 2012).

International commercial arbitration is one of the most important legal institutions in international private law. This conclusion follows from the fact that the nature of arbitration depends largely on autonomy of the parties, who choose arbitration procedure as the procedure in which the dispute will be settled; place where the arbitration is to be held; arbitral tribunal etc. Probably the most important and considerable expression of the autonomy is the right to choose the law, which is to be applied to merits of the dispute. The chosen applicable law guarantees in large measure predictability of the outcome of the case and allows parties to control the scope of interpretation and application of the international commercial

Recent advances have to a large extent added impetus to the development of these forms of dispute resolution. The Abuja and Lagos Multi-Door Courthouses (AMDC & LMDC) for instance are breakthrough institutions in providing ADR services, and there is currently a bid to replicate the same system in all the states of the federation with Kano and Akwa- Ibom joining the elite league of judiciaries with court connected ADR centers. . The Multi – Door Courthouses maintain a panel of Neutrals made up of reputable professionals and retired judges trained for ADR proceedings.

Courts are over bounded with a large number of cases and their disposal takes long time. Therefore a need was felt for a faster dispute resolving mechanism. That’s why “Arbitration Act” was provided with a view to give speedy justice to the people and also to avoid unnecessary court case expenses. It is an informal dispute settlement mechanism. Bangladesh has recently enacted a new arbitration law, known as “The Arbitration Act, 2001. The Act came into force on April 10, 2001. The Act has repealed The Arbitration (Protocol and Convention) Act, 1937 and The Arbitration Act, 1940. With this new enactment Bangladesh has kept pace with the recent trends in the field of international arbitration in the rest of the world.