Scribd Logo
Upload

Welcome to Scribd!

  • 435 views

    International Commercial Arbitration

    Uploaded by

    Sambhavi
    International commercial arbitration is defined as an arbitration relating to disputes arising from legal relationships considered commercial under Indian law where at least one party is a foreign individual, corporation, company, or government. An arbitration is international if the parties have places of business in different countries or if a substantial part of the obligations or subject matter is connected to multiple countries. Commercial relationships include any transaction of a commercial nature, such as trade, distribution, construction, banking, or investment. The arbitral tribunal shall apply the rules of law designated by the parties or consider appropriate given the dispute's circumstances. International commercial arbitration has strengths like neutrality, enforceability, flexibility, and confidentiality but also has disadvantages like cost and slowness.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    International Commercial Arbitration

    Uploaded by

    Sambhavi
    435 views6 pages
    International commercial arbitration is defined as an arbitration relating to disputes arising from legal relationships considered commercial under Indian law where at least one party is a foreign individual, corporation, company, or government. An arbitration is international if the parties have places of business in different countries or if a substantial part of the obligations or subject matter is connected to multiple countries. Commercial relationships include any transaction of a commercial nature, such as trade, distribution, construction, banking, or investment. The arbitral tribunal shall apply the rules of law designated by the parties or consider appropriate given the dispute's circumstances. International commercial arbitration has strengths like neutrality, enforceability, flexibility, and confidentiality but also has disadvantages like cost and slowness.

    Original Description:

    International commercial arbitration

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    International commercial arbitration is defined as an arbitration relating to disputes arising from legal relationships considered commercial under Indian law where at least one party is a foreign individual, corporation, company, or government. An arbitration is international if the parties have places of business in different countries or if a substantial part of the obligations or subject matter is connected to multiple countries. Commercial relationships include any transaction of a commercial nature, such as trade, distribution, construction, banking, or investment. The arbitral tribunal shall apply the rules of law designated by the parties or consider appropriate given the dispute's circumstances. International commercial arbitration has strengths like neutrality, enforceability, flexibility, and confidentiality but also has disadvantages like cost and slowness.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    435 views6 pages

    International Commercial Arbitration

    Uploaded by

    Sambhavi
    International commercial arbitration is defined as an arbitration relating to disputes arising from legal relationships considered commercial under Indian law where at least one party is a foreign individual, corporation, company, or government. An arbitration is international if the parties have places of business in different countries or if a substantial part of the obligations or subject matter is connected to multiple countries. Commercial relationships include any transaction of a commercial nature, such as trade, distribution, construction, banking, or investment. The arbitral tribunal shall apply the rules of law designated by the parties or consider appropriate given the dispute's circumstances. International commercial arbitration has strengths like neutrality, enforceability, flexibility, and confidentiality but also has disadvantages like cost and slowness.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 6
    At a glance
    Powered by AI
    The key takeaways are that international commercial arbitration relates to disputes arising out of legal relationships between parties located in different countries, and involves flexible procedures and confidentiality.

    An arbitration is considered international if the parties have places of business in different countries, or if a place related to the arbitration such as the arbitration venue is located in a different country from the parties' places of business.

    The proper law in an international arbitration is determined by any designation by the parties, or failing that, the arbitral tribunal will apply the rules of law it considers appropriate given the circumstances of the dispute.

    INTERNATIONAL

    COMMERCIAL
    ARBITRATION
    Definition
    Sec. 2 (1) (f) “International commercial arbitration” means an
    arbitration relating to disputes arising out of legal
    relationships, whether contractual or not, considered as
    commercial under the law in force in India and where at least
    one of the parties is -

    (i) An individual who is a national of, or habitually resident in, any


    country other than India; or

    (ii) A body corporate which is incorporated in any country other


    than India; or

    (iii) A company or an association or a body of individuals whose


    central management and control is exercised in any country
    other than India; or

    (iv) The Government of a foreign country;


    An Arbitration Is International If :
    (a) The parties to an arbitration agreement have, at the time
    of conclusion of the agreement, their places of business at
    different places; or

    (b) One of the following places situated outside the state in


    which the parties have their places of business :
    (i) The place of arbitration if determined in, or pursuant to,
    the arbitration agreement;
    (ii) Any place where a substantial part of the obligation of the
    commercial relationship is to be performed or the place
    with which the subject matter of the dispute is most
    closely connected; or
    (iii) The parties have expressly agreed that the subject matter
    of the arbitration agreement related to more than one
    country.
    Commerciality
    The term commercial should be given a wide
    interpretation as to cover matters arising from all
    relationships of a commercial nature, whether
    contractual or not. Relationships of a commercial
    nature include, but are not limited to the following
    transactions:
    any trade transaction for the supply or exchange of
    goods or services; distribution agreement; commercial
    representation or agency; factoring; leasing;
    construction of works; consulting; engineering;
    licensing; investment; financing; banking; insurance;
    exploitation agreement or concession; joint venture
    and other forms of industrial or business co-operation;
    carriage of goods or passengers by air, sea, rail or road .
    Choice of place and proper law of
    arbitration
    Sec. 28(b) In international commercial arbitration –

    (i) The arbitral tribunal shall decide the dispute in


    accordance with the rules of law designated by the
    parties as applicable to the substances of the dispute;
    (ii) Any designation by the p arties of the law or legal system
    of a given country shall be construed, unless otherwise
    expressed, as directly referring to the substantive law of
    that country and not to its conflict of laws rules;
    (iii) Failing any designation of the law under clause (a) by the
    parties, the arbitrat tribunal shall apply the rules of law it
    considers to be appropriate, given all the circumstances
    surrounding the dispute.
    Characteristics
    Regardless of the popularity of international commercial
    arbitration as an alternative method for resolving
    international commercial disputes, this method has
    both strengthens and shortcomings in many aspects.
    The neutrality of arbitrators or international
    arbitration institutions, the enforceability of arbitral
    awards in foreign countries, the flexibility in
    arbitration process and confidentiality of arbitration
    proceedings are often considered as the most
    advantageous features of international commercial
    arbitration, with some criticisms on these aspects,
    while generally the cost and the slowness of this
    method makes it disadvantageous.

    You might also like