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International Commercial Arbitration With Complete Solutions Latest Update 2024
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International Commercial Arbitration With Complete Solutions Latest Update 2024
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International Commercial Arbitration WithComplete Solutions Latest Update 2024
International Commercial Arbitration - correct answers Uniformity is a goal
Why choose to arbitrate? - correct answers Arbitration is an alternative to
litigation
Cost
Time
More creditability with other biz people
Confidentiality
Arbitral Tribunal - correct answers One or three arbitrators
Arbitration Procedure - correct answers Private proceedings
No enforcement power unless government recognition
Local law puts the teeth in arbitration
Works to the extent that the government will allow it to work
Should have gov't recognition so there can be enforcement
New York Convention - correct answers Convention on the recognition and
enforcement of Foreign Arbitral Awards
, - Focuses on the recognition and enforcement arbitration agreements and arbitral
awards
- Requires national courts to recognize and enforcement forge in arbitral awards
(articles III and IV)
- Subject to a limited number of specified exceptions (Art. V)
- Require national courts to recognize the validity of arbitration agreements (Art.
II)
- Requires national courts to refer parties to arbitration when they have entered
into a valid agreement to arbitrate that is subject to the Convention (Art. II(3))
Exceptions to Arbitration - correct answers Jurisdiction
Procedure
Fundamental fairness
Compliance with the parties' arbitration agreement
Public Policy
Finality of the award - correct answers Narrow rules in the US are mostly
procedural and have nothing to do with the merits of the dispute
Courts cannot consider or review the merits of the arbitrator's substantive
decision
Final, binding, and subject to no further review
Lack of discovery - correct answers - Discovery in arbitration proceedings depends
on the case
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