Arbitration Agreements In International Law

Other combinations of services are also possible. For example, arbitration can be used as a return to expertise or dispute resolution bodies. Similarly, parties who may use ICC Arbitration to use the ICC International Centre for ADR for an expert`s proposal, where advice is required during the arbitration process. International arbitration is similar to national judicial proceedings, but instead of taking place before a national court, it finds itself before private adjudicators known as arbitrators. It is a consensual, neutral, binding, private and enforceable means of settling international disputes, generally faster and less costly than domestic judicial proceedings. – Texts of additional direct agreements recommended. The dominant rule system is the UNCITRAL Arbitration Rules and the 1958 United Nations Convention on the Recognition and Enforcement of Foreign Arbitration Awards (the “New York Convention”). [2] The International Centre for the Settlement of Investment Disputes (ICSID) also handles arbitration proceedings, but focuses particularly on investor-state dispute resolution and hears relatively few cases. To fill the void when parties to an international agreement have difficulty agreeing on an arbitration institution, some international arbitration experts recommend the use of an arbitration clause authorizing two arbitration institutions in the same city. These clauses generally allow the party starting the arbitration to choose the arbitration institution. [19] In addition to the trade reserve, Article 1, paragraph 3, of the New York Convention also provides for reciprocal reservations, which means that “any state may declare that it applies the convention to the recognition and performance of bonuses that are granted only in the territory of another contracting state.” Article 14 of the New York Convention also provides for a more general provision on reciprocity, which states that “a contracting state does not have the right to use this Convention against other contracting states, unless it is itself obliged to apply the Convention.” A total of 76 contracting states expressed reservations on the basis of reciprocity as of the date of writing. In practice, the application of the New York Convention is ratified by the world`s major trading countries, so that reciprocal reservations rarely become an obstacle to recognizing the validity of an international trade arbitration agreement.

Similarly, Article 8, paragraph 1, of unCIT`s model law provides that “a court before which an action is commenced in a case subject to an arbitration agreement, the parties, when they request it, to an arbitration procedure, unless it finds that the agreement is real and null, inoperative or not. The New York Convention and the laws of many states parties governing international arbitration apply only to “international” or “foreign” arbitration agreements.