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I N T E R N AT I O N A L A R B I T R AT I O N

By Manmeet Singh Meet

MBA IB,UBS Source : wikipedia

Topics already Covered


Meaning Features of IA Difference between DA and IA Advantages of IA

MBA IB,UBS Source : wikipedia

Topics to be covered
Neutrality and Enforceability of Arbitration International Commercial Arbitration Institutes and Associations International Investment Arbitration

MBA IB,UBS Source : wikipedia

Neutrality and Enforceability of Arbitration Awards


The ability to resolve disputes in a neutral forum and the enforceability of binding decisions are often cited as the main advantages of international arbitration over the resolution of disputes in domestic courts. The principal instrument governing the enforcement of commercial international arbitration agreements and awards is the United Nations Convention on Recognition and Enforcement of Foreign Arbitral Awards of 1958. The New York Convention was drafted under the auspices of the United Nations and has been ratified by more than 140 countries, including most major countries involved in significant international trade and economic transactions. The New York Convention requires the states that have ratified it to recognize and enforce international arbitration agreements and foreign arbitral awards issued in other contracting states, subject to certain limited exceptions. These provisions of the New York Convention, together with the large number of contracting states, has created an international legal regime that significantly favours the enforcement of international arbitration agreements.
MBA IB,UBS Source : wikipedia 4

In a practical Sense
It means that the international award originating in a country that is a party to the New York Convention may be enforced in any other country that is also a signatory, as if that award were actually rendered by the domestic courts of that country. Example : Assume that parties from countries A and B have agreed to resolve their disputes in country C, and all three countries are parties to the New York Convention. This will mean that even though the arbitration will take place in country C, the resulting award can be enforced in countries A or B, as if it were a court decision rendered in the domestic courts of that country.

MBA IB,UBS Source : wikipedia

Contd.
The parties to international contracts can decide to site their disputes in a third, neutral country, knowing that the eventual award can be easily enforced in any country that is a signatory to the New York Convention, which has been ratified by a significant majority of commercial nations
Exceptions like Iraq (not having ratified the New York Convention , cannot be assumed to give effect to arbitration decisions rendered in other countries). An international award has substantially greater executory (legal) force than a domestic court decision.

Under the New York Convention, if a party to arbitration commences legal proceedings in breach of an arbitration agreement against another contracting party, the court is obligated to stay the proceedings. Chapter 2 of the Federal Arbitration Act sets forth the statutory basis for an American court to issue a stay in connection with contracts falling within the ambit of the New York Convention.

MBA IB,UBS Source : wikipedia

International Commercial Arbitration


The resolution of disputes under international commercial contracts is widely conducted under the auspices of several major international institutions and rule making bodies. The most significant are the International Chamber of Commerce (ICC) JAMS International International Centre for Dispute Resolution (ICDR) International branch of the American Arbitration Association The London Court of International Arbitration (LCIA), The Hong Kong International Arbitration Centre, and the Singapore International Arbitration Centre (SIAC). Specialist ADR bodies also exist, such as
The World Intellectual Property Organisation (WIPO), which has an arbitration and mediation centre and a panel of international neutrals specialising in MBA IB,UBS intellectual property and technology related disputes.
Source : wikipedia 7

Contd.
A number of arbitral institutions have adopted the UNCITRAL Rules for use in international cases. The most salient feature of the rules of the ICC is its use of the "terms of reference." The terms of reference is a summary of the claims and issues in dispute and the particulars of the procedure, and it is prepared by the tribunal and signed by the parties near the beginning of the proceedings. Recent development
The Swiss Chambers of Commerce of Industry of Basel, Berne, Geneva, have adopted a new set of Swiss Rules of Commercial Mediation that are designed to integrate fully with the Swiss Rules of International Arbitration that were previously adopted by these chambers to harmonize international arbitration and mediation proceedings across Switzerland.
MBA IB,UBS Source : wikipedia

Institutes and Associations


International Arbitration Institute (IAI) The Association for International Arbitration (AIA) Atlanta International Arbitration Society (ATLas)

MBA IB,UBS Source : wikipedia

International Arbitration Institute (IAI)


The International Arbitration Institute, headed by Emmanuel Gaillard, was created in 2001 under the auspices of the CFA to promote exchanges and transparency in the international commercial arbitration community.

MBA IB,UBS Source : wikipedia

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The Association for International Arbitration (AIA)


A non-profit organization, founded at Paris in 2001 by Johan Billiet. The Association for International Arbitration has an increasing number of members among arbitrators and mediators of international backgrounds. Aim
To facilitating arbitration, mediation and general forms of dispute resolution internationally.

The AIA has developed into an organization dealing in the private international law field to meet the needs of the fast-growing evolution of dispute resolution within the international community.
MBA IB,UBS Source : wikipedia 11

Contd.
AIA provides information, training and educational activities to expand the promotion of arbitration and ADR globally by means of securing partnerships with various organizations and parties to get involved in the life of the association. The association constantly works to develop partnerships in the international realm and to provide the international community of arbitrators and ADR professionals with continuous exposure to the latest international developments, activities and opportunities in the field. AIA continually encourages the participation and contribution of its members in the pursuit of the associations goals.
MBA IB,UBS Source : wikipedia 12

Atlanta International Arbitration Society (ATLas)


Atlanta, as host to the third-largest concentration of Fortune 500 company headquarters in the United States (economic capital of the Southeast) is sited as one of the most arbitration-friendly states in the nation, has become a centre for international arbitration. Georgia took an early lead in enacting an international arbitrationfriendly state statute in 1988, becoming one of the first jurisdictions to adopt substantial portions of the 1985 UNCITRAL Model Law on International Commercial Arbitration. It composed of scholars, judges, lawyers, business leaders, arbitrators, and other professionals who specialize in international law and arbitration, is an organization that focuses on educating, counselling, and guiding the international legal community about arbitrations in Atlanta.

MBA IB,UBS Source : wikipedia

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International Investment Arbitration


The legal protection of Foreign Direct Investment is guaranteed by a network of more than 2750 Bilateral Investment Treaties (BITs), Multilateral Investment Treaties, most notably the Energy Charter Treaty and number of Free Trade Agreements containing chapter on investment protection, such as NAFTA. The majority of these International Investment Agreement provides foreign investors with a substantive legal protection and direct means to redress against states for breaches of such treaties, usually before the International Centre for the Settlement of Investment Disputes (ICSID).
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Thank you

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