Uk Law

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  • Topic: Arbitration, Contract, Arbitral tribunal
  • Pages : 3 (1044 words )
  • Download(s) : 58
  • Published : May 13, 2013
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In considering whether to start arbitration for a client, it is necessary to keep in mind the generally customers have a right to require a broker-dealer to present for arbitration disputes that are inter-related to or happening out of the business activities of that broker-dealer. It also has to remember that a controversy is ineligible for submission if six or more years have passed to from the date of event occurrence. As an arbitrator, I have the right to dismiss the claim barred shorter applicable state or federal statutes of limitations. Also, before deciding to act an arbitrator for a client, the contract should be read clearly in order to understand the qualifications that have been agreed by both parties, as the appointment of an arbitrator can be challenged on this ground (Section 12 (3) (b), 1996). However, these challenges have to bring within 15 days after becoming aware of the constitution of the arbitral tribunal. In this particular scenario, however, I have been named by the appointment enquiry to work as an arbitrator. If the parties have failed to appoint a suitable arbitrator for their case, the jurisdiction holds the right to appoint another arbitrator and the basis for assuming this right is that clause would otherwise be provided out of action. However, before seeking the appointment of arbitrator is it important for the clients to make sure that there is arbitration clause present in the contract that has been signed between the parties before the conflict (Section 16, 1996). Before deciding whether I would precede the case, I must ensure that the “Notice of Arbitration” sent is in express and precise language and that it is implied. It is important to ensure that the communications done in the context are sufficient enough to present the clear motives behind the case, therefore I can decide whether to work on the case or not. The letter of invocations holds great importance in the decision...
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