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
1.2 Commercial Arbitration in the Islamic Middle East Massive world’s oil reserves lie in the countries lying in the Gulf, and most of the world corporations are keen to do business in the region. Therefore, the Co-operation Council from now on referred to as GCC is well represented in the international business environment. Countries trading with the Middle East and North Africa (MENA) have complained about lenient or ineffective modern arbitration rules and regulation in the member states. However
involvement in international arbitration is a fact of life as prevalent as the weather. National courts become involved in arbitration for a whole host of reasons, but do so primarily because national laws are permissive and parties invite or encourage them to do so. But what is the nature of such involvement? Does it complement or impede the arbitration process? Is there a place for any court involvement at all in the system referred to as international arbitration? The aim of this project is to
What Is Arbitration? Arbitration is a fast way to get a decision when you are in a dispute. Arbitration is more flexible and less formal than court. Usually, an arbitration can be scheduled faster than a trial. Sometimes, if the parties want, arbitrators can decide things that judges are not allowed to decide. Arbitration is like a trial but less formal. In arbitration, two sides present their evidence to an arbitrator. The arbitrator decides who wins and who loses. An arbitrator does the job
Dispute Resolution: Arbitration Law in Nepal Anamol Bisht Kathmandu University School of Management In an event of the breach of any contract, legal remedy should be provided to the parties that are involved in the agreement. However, instead of going directly to the court of law, there are specific remedies that serve as an alternative dispute resolution and one such alternative is arbitration. In arbitration, an arbitrator (a neutral third party or experts) renders a decision based on the disputes
the increasing prevalence of class action waivers in arbitration. The first challenge towards them, as explained below, involved the California state contract law doctrine of unconscionability. Nonetheless, the Supreme Court eventually struck down this argument but the decision eventually sparked the now controversial circuit split which has led to the Supreme Court granting certiorari to grant clarity on the issue of class action arbitration waivers. A. The Unconscionability Doctrine and the
it’s with the secondary disputes, or ‘disputes about disputes’, that this paper is concerned. While they have a professional and social purpose in ensuring that dispute resolution complies with the applicable rules, they naturally give rise to the question addressed in this paper: to what extent should challenges to the process or the result be allowed; or ‘How final should dispute resolution be?’ (Uff, 2010). The first point to make is that the standard forms then in common use contained serious
Question No. 1 Part A: Answer. ACA or a non-disclosure agreement is a contract between two parties agreeing to confine information provided by one party to the other, from third parties. It is essential for both parties to maintain trust between each other and to since BTOC is the first interested financial investor for LOL, it is necessary that the terms are kept confidential from the market to avoid possible damage to repute. Also, no formal contract has yet been signed between the parties; therefore
suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved, and no fact tried by a jury, shall be otherwise reexamined in any court of the United States, than according to the rules of the common law. We live in a very litigious society. To combat this in 1925 Congress passed and President signed the Federal Arbitration Act that allowed some civil cases to avoid the courts and be determined by binding arbitration. Most of the cases
“Arbitration or Litigation?” THE REASONS FOR CHOOSING ARBITRATION OVER LITIGATION Over the last few decades, as the trade, commerce and investment has developed and evolved in an international aspect throughout the world, the necessity of an alternative resolution for the disputes arising between the parties involved in international business has occurred. From that necessity, international arbitration has emerged as a remedy, which is a method for dispute resolution between states, individuals