COMMERCIAL ARBITRATION

Commercial Arbitration

Disputes1

Types of Disputes1

Arbitration: Alternate Dispute Resolution Process1

Commercial Arbitration1

Increased Use of Arbitration2

Arbitrators and Responsibility2

Integrity3

Arbitrator and Sound Judgement3

With Power Comes Obligations; UNCITRAL Model Law and Commercial Arbitration Act 19963

Independence of the Arbitrators4

Challenging the Arbitrators5

Implications for Arbitrator Independence5

Impartiality: a Rising Issue from Independent Intermediary Power6

Act of 1996, Defining Impartiality6

Disclosure of Information7

Impartiality and Independence of the Arbitrators and Act of Commercial Arbitration8

The UNCITRAL Arbitration Rules8

Article 98

Article 118

The ICSID Convention and its Arbitration Rules9

Article 14(1)9

Commercial Arbitration and Economic Development9

References11

Commercial Arbitration

Disputes

Ways of solving disputes have been numerous. Over the history of human beings, people have been disputing and having quarrels over numerous issues. Settlement of the issues and their resolution has made men devise various methods for the settlement. More formal a matter is, more important are the ways to settle and resolute it.

Types of Disputes

Arbitration: Alternate Dispute Resolution Process

One such ways of solving and resolving the disputes is the method of utilizing the services of a third party; contacting and asking assistance from a person or group of people who are not directly related to the dispute and do not relate to either of the quarrelling parties. The method of utilizing services of third party is what is referred to as arbitration. Arbitrator is a person who carries out the process of arbitration and plays a vital role in settling a dispute or a quarrel. With the growth and upsurge of the dimensions of communications people engage in, the aspects of conflicts have also changed and altered. Conflicts vary from individual level conflicts to the conflicts happening and occurring at the levels of larger groups. Arbitration comes in handy with all types of conflicts and quarrels.

Commercial Arbitration

At the group level, conflicts might also arise between two nations or corporate parties. The conflicts assisting at the national levels might be exemplified as the conflicts between quarrelling nations over various issues; including economic developments or the disputes for power. Businesses and running of industries is also fraught with matters that require dispute or quarrel solving. The process of going towards a solution for a corporate, trade or transactional matter is referred to as commercial arbitration. Due to the increased amount of trade and business between the countries and their relations regarding the corporate ties, quarrels and disputes occur and have to be solved through various means. Because of the fact that businesses, countries or regions are involved in, arbitration has actually taken a form of formal solution method and laws have been devised for the national as well as international arbitration.

Increased Use of Arbitration

Arbitration is increasingly being used as one of the most utilized and effective ways to solve the disputes between the disputing parties or groups. The rate of utilization of arbitration for solving the disputes is steadily increasing with regards to the international transactions. Commercial arbitration has taken a prominent position in the industry and business relations because when the parties or groups of people engage in international commerce and trade, the stakes are high for the deals ...