The Pros And Cons Of International Law

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“International Law consists of the rules and principles of general application dealing with the conduct of States and international organizations in their international relations with one another and with private individuals, minority groups and transnational companies” (Beckman & Butte, 2013). It is therefore important that states are able to uphold these laws to ensure that they avoid conflicts with companies from other countries as well. Where necessary countries should apply the laws without any fear or favor of the companies or individual involved regardless of whether the company that has broken the law is in the same country that is executing the law.
Laws that Govern Arbitration in the United States
In the United States, the laws responsible for governing arbitration are contained in the Federal Arbitration Act. It mainly subjects most arbitration to the judicial review of single standards regardless of whether the dispute has been categorized as either international or domestic. The first chapter contains the very basic of the provisions of the act with regards to making of the arbitration agreements and the enforcing of awards. The second chapter of the federal arbitration act is for implementing the New York convention while the third chapter holds the Panama Convention. Both the second and the third chapters are described as the International Federal Arbitration Acts. The international arbitration agreement is however subjected to the United States ‘domestic

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