International Arbitration Agreements

Ensuring a successful arbitration requires drafting an arbitration agreement that specifically meets the parties’ needs.

Agreeing to Arbitrate: the Arbitration Clause

Arbitration agreements require that any disputes between the parties be resolved through some form of arbitration. These agreements are typically formed at one of two points in time: during the negotiation of a contract, or after a legal dispute arises. Including an arbitration clause in a contract can streamline the dispute resolution process before a controversy arises and it becomes more difficult for the parties to work together.

ABOUT ARBITRATION AGREEMENTS

Arbitration agreements commonly designate:

TYPE OF ARBITRATION: ADMINISTRATED OR AD HOC

Arbitration proceedings can be administered by an arbitral institution such as the ICC, or conducted ad hoc, where the parties mutually agree on and determine their own arbitration process and procedures, often outside of an arbitration court.

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SEAT OF ARBITRATION

The seat of arbitration is important as it determines, to a certain extent, (i) in which proportion State courts might intervene in the arbitral procedure, (ii) how prone might be the State court to enforce or, to the contrary, annul the arbitral award. It may also have an impact on the law applicable to the procedure.
Even though the seat is where the award is deemed have been made, the arbitral tribunal may decide, in consultation with the parties, to hold the eventual hearing(s) elsewhere.

Even though the seat is where the award is deemed have been made, the arbitral tribunal may decide, in consultation with the parties, to hold the eventual hearing(s) elsewhere.

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Many arbitration courts have standard arbitration clauses that parties can use in their contracts if they wish to name that particular institution to handle future disputes.