The following Arbitration practice note provides comprehensive and up to date legal information covering:
Arbitration is a popular mechanism for resolving international commercial disputes. This Practice Note considers the key features that distinguish international arbitration from English and Welsh civil litigation (England and English are used as convenient shorthand). This Practice Note also discusses some of the perceived advantages of arbitration and identifies circumstances in which litigation may be a more appropriate method of dispute resolution.
The following introductory Practice Notes are also likely to be of interest:
Arbitration—an introduction to the key features of arbitration
Institutional arbitration—an introduction to the key features of institutional arbitration
Ad hoc arbitration—an introduction to the key features of ad hoc arbitration
International arbitration—an introduction to the key features of international arbitration
International arbitration—key differences between international and domestic arbitration
Sophisticated commercial parties often include an arbitration clause (an arbitration agreement) in their commercial contracts. If drafted correctly, the arbitration agreement can provide parties with greater control over how their disputes are resolved and, significantly, who may be appointed to determine the dispute.
The arbitration agreement invokes a private dispute resolution mechanism, which is capable of ousting the jurisdiction of the English courts in respect of any disputes that may arise. If the arbitration is seated in, for example, England, the English courts retain certain supervisory powers that can be invoked to support the arbitral process. These powers may be exercised
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There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
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