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International commercial arbitration

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  1. Definitions, competence and power.
    1. Definitions of arbitration.
    2. Definition of international commercial arbitration.
  2. International agreements, conventions, and treaties.

In the event of resolution of disputes related to international commercial agreements, the International commercial arbitration is one of several forms of dispute resolution. 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 wherein the 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. As parties from different national origins may 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.

[...] International commercial arbitration I. Introduction International 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. [...]


[...] The process by which the parties to a dispute submit their differences to the judgment of an impartial person or group appointed by mutual consent or statutory provision. Law: the hearing and determination of a dispute by an impartial referee agreed to by both parties (often used to settle between labor and management). The act of deciding as an arbiter; giving authoritative judgment; ?they submit their disagreement to arbitration?. "Arbitration agreement" is an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not. [...]


[...] The Permanent Court of Arbitration was formed to handle arbitrations exclusively involving states, but since 1992 it has broadened its mandate to include disputes involving states and private parties, as well as disputes involving international organizations. Over one hundred states are parties to one or both of the Conventions. Bibliography - Clifford Larsen, International Commercial Arbitration, ASIL Insight, April 1997. - Peter V. [...]


[...] While it does not administer arbitration disputes, its arbitration rules may be used by any public or private entity wishing to arbitrate without the use of an international arbitral institution. In addition, UNCITRAL in 1985 issued a Model Law on International Commercial Arbitration that has influenced the national arbitration legislation of more than 45 countries. At least four states in the US have based their arbitration laws on the model law (California, Connecticut, Illinois, Oregon and Texas). Other international agreements relevant to international arbitration concern enforcement of arbitral awards and decisions. [...]

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