International Commercial Arbitration
LATROBE UNIVERSITY-GBL Program
LAW5ICA – International Commercial Arbitration
Student Name: ANASTASIA HATZIS
Student Number: 16476928
PART I: Question 1 (30 marks)
“An international arbitration procedure is governed by the terms of the agreement between the Parties, by the Rules under which they have chosen to conduct their arbitration, and by the legislation of the jurisdiction in which they have chosen to arbitrate.”
Discuss how these three elements interact from the drafting of the dispute resolution agreement through to the enforcement of the resulting Award.
International arbitration is the process in which disputing parties from different states can elect to resolve their disputes. The outcome of this is a binding award that due to international law of the New York Convention, can be enforced in many countries. International arbitration awards are final and binding, and their enforcement in provided for by the New York Convention[1]. International arbitration is often described as a hybrid of dispute resolution, as it permits parties a uniquely broad flexibility in designing arbitral proceedings. The elementary factor of all international arbitrations is that it is consensual. Simply, without an agreement to arbitrate, there will be no arbitration. Consent is fundamental in the arbitration process and begins from the very first decision to enter into an arbitration agreement[2]. In addition, the terms of the arbitration agreement between the parties plays a primary role in governing the arbitral proceedings[3].
The inclusion of an arbitration clause in a contract streamlines the resolution of a dispute between the parties, as it sets out procedures from the beginning. By drafting a dispute resolution agreement that specifically accommodates the needs of each party, there is greater assurance of a successful negotiation. The terms between the parties
LAW5ICA – International Commercial Arbitration
Student Name: ANASTASIA HATZIS
Student Number: 16476928
PART I: Question 1 (30 marks)
“An international arbitration procedure is governed by the terms of the agreement between the Parties, by the Rules under which they have chosen to conduct their arbitration, and by the legislation of the jurisdiction in which they have chosen to arbitrate.”
Discuss how these three elements interact from the drafting of the dispute resolution agreement through to the enforcement of the resulting Award.
International arbitration is the process in which disputing parties from different states can elect to resolve their disputes. The outcome of this is a binding award that due to international law of the New York Convention, can be enforced in many countries. International arbitration awards are final and binding, and their enforcement in provided for by the New York Convention[1]. International arbitration is often described as a hybrid of dispute resolution, as it permits parties a uniquely broad flexibility in designing arbitral proceedings. The elementary factor of all international arbitrations is that it is consensual. Simply, without an agreement to arbitrate, there will be no arbitration. Consent is fundamental in the arbitration process and begins from the very first decision to enter into an arbitration agreement[2]. In addition, the terms of the arbitration agreement between the parties plays a primary role in governing the arbitral proceedings[3].
The inclusion of an arbitration clause in a contract streamlines the resolution of a dispute between the parties, as it sets out procedures from the beginning. By drafting a dispute resolution agreement that specifically accommodates the needs of each party, there is greater assurance of a successful negotiation. The terms between the parties
Bibliography: Clayton Utz ‘A guide to International Arbitration’ (2012) A Guide to International Arbitration- Second Edition. Emilia Onyema, International Commercial Arbitration and the Arbitrator’s Contract, (Taylor and Francis Group 2010) Gary B Gary B. Born , International Arbitration and Forum Selection Agreements: Drafting and Enforcing, 3rd Edition (Kluwer Law International 2010) Gloria Miccoili, ‘International Commercial Arbitration’ The American Society of International Law. Jeff Waincymer , ‘Procedure and Evidence in International Arbitration’ (2012) Kluwer Law International.