Arbitration (TIẾNG ANH KINH tế SLIDE)

 A form of alternative dispute resolution ADR,  Is a legal technique for the resolution of disputes outside the courts, wherein the parties to a dispute refer it to one or more person

Unit 10: Arbitration

Three branches of the U.S Federal Government

US judicial system

Vietnam’s Judicial System

 A form of alternative dispute resolution (ADR),

 Is a legal technique for the resolution of

disputes outside the courts, wherein the parties to a dispute refer it to one or more persons (the "arbitrators"), by whose

decision (the “award") they agree to be

bound

 Can be binding or not binding

 An alternative to court action

 Eg: in divorce situations – in America 50% marriages end up at divorces

 Has been the dominant force in dispute

resolution in areas such as:

 A neutral forum with a panel of three

arbitrators:

 One chosen by one party

 One chosen by the other party

 One chosen either by the parties or the two party-appointed arbitrators

 Main centres for international arbitration are: Paris, London, Geneva, Stockholm, New

York, Hong Kong and Singapore

 Stockholm: east-west trade disputes

 London: shipping & commodities

Name recognition

 Paris: home of the International Chamber

of Commerce and its rules.

 London: home of the London Court of

International Arbitration

 Geneva

 Arbitration bodies try hard to get their

standard arbitration clause put into people contracts, so they have a captive market

once disputes arise

 They do this by publicising their activities

and their rules

The choice of the venue depends on:

 The availability of good experienced arbitrators

 The availability of good experienced arbitration

lawyers, and expert witnesses such as

accountants and engineers

 The cost of these people

 The support that local legal system gives to

arbitration

 Accessibility: flight access, good facilities,

administrative back-up, good telecommunications,

IT support, and climate

 National legislation has to lend its support

to such an important economic activity as arbitration

 Voluntary

 Mandatory

 International commercial disputes

 Shipping / Commodities / Construction

 In private place

 Litigation in the court.

 A panel of three arbitrators