The following Arbitration practice note Produced in partnership with Benjamin Coffer of Quadrant Chambers provides comprehensive and up to date legal information covering:
CORONAVIRUS (COVID-19): Many arbitral organisations have responded to the coronavirus pandemic with practical guidance and/or changes to their usual procedures and ways of working. For information on how this content and relevant arbitration proceedings may be impacted, see Practice Note: Arbitral organisations and coronavirus (COVID-19)—practical impact. For additional information, see: Coronavirus (COVID-19) and arbitration—overview.
Arbitration under the rules of a trade association is a major feature of commodities disputes. In certain trades, it is almost invariable practice for sale contracts to provide that disputes are to be resolved by arbitration under the rules of a trade association. This ensures a ready supply of disputes for the arbitration departments of the associations, and a thriving community of arbitrators, lawyers and trade representatives working within those institutions.
A trade association is a membership organisation whose purpose is to bring together the principal actors in a particular trade. For example, the Grain and Feed Trade Association (GAFTA) is an association of traders, brokers, superintendents, analysts, fumigators, arbitrators and other professionals in the international grain trade.
As part of the service to their members, the trade associations provide a framework for the arbitration of disputes, usually embodied in a set of ‘Arbitration Rules’. The associations also provide a pool of trade arbitrators to conduct the arbitrations, an administrative set-up to organise the practicalities of the arbitration (eg
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