01. Introduction Flashcards
What are the key elements of arbitration?
Private
- More convenient for state disputes
- Private award
- Parties only (not press/public)
- Not in courts
International
- Universal enforceability
- Neutral seat
- Companies/States
Consensual
Adjudicative
- Fair, efficient, expedient
- No delay in award
Final & binding
- As parties agreed (not court’s coercive power)
- No appeal
What are the advantages of arbitration?
Neutral
- Seat
- Tribunal (Independent/Impartial)
Enforceability
- Domestically + Internationally
- Binding
Flexibility
- Determine procedural aspects w/o court requests
- Determine tribunals with expertise + ease of understanding
Confidentiality
- Trade secrets/Competitive practices
- Avoid publication of disputes/bad decisions
Arbitrator’s powers
- More power than judge
- Continuing involvement (facilitate settlements)
Expedition
Finality
- No appeal
What are the disadvantages of arbitration?
Multi-parties
Non-signatories joinder
Conflicting awards
- Not used as precedents
Costs
- Expert fees
- Legal fees
- Secretary fees
- Hearing fees
Delay
- Tribunal formation
- Award issuance
What are the advantages of ad hoc arbitration?
More tailored to case + parties’ desires
UNCITRAL Rules
- Convenient + Updated
What are the disadvantages of ad hoc arbitration?
Parties’ cooperation required
- Otherwise tribunal + rules required
What are the advantages of institutional arbitration?
Smooth running
Arbitration Rules
- Automatically incorporated
Specialist staff
Quality control
- Reviewing draft award
What are the disadvantages of institutional arbitration?
Fixed fees
Delay
- Respondents reviewing docs
- Public policy issues
What are the types of dispute resolution mechanisms?
Litigation
- Binding award
- Appealability
- Public
- Strict rules
- Long
- Expensive
Expert determination
- Not binding award
- No appealability
- Private
- Expertise
- Quick
- Cheap
Negotiation
- Not binding award
- Private
- Flexible
Mediation/Conciliation
- Binding (Parties choose remedies)
- Private
- Flexible
Adjudication (UK)
- Not binding
- No appealability
- Quick
- No further proceedings
Baseball arbitration (US)
- Not private (parties have access to facts)
- Narrow demands
What are the different arbitral institutions?
ICC
- Secretariat (assists court, daily admin)
- Emergency arbitrator appointment
- Terms of Reference (framework for entire arbitration)
- Adequate reasoning in award
LCIA
- Emergency arbitrator appointment
- Expedited tribunal formation
- Business friendly/Non bureaucratic
- More detailed than ICC Rules
ICSID
- ICSID Convention (states already party > no need to ask to participate in arbitration)
- BIT/NAFTA
- International arbitrations (not domestic)
AAA/ICDR
- Case admin (not hands-on)
- Business friendly/Non bureaucratic
- Domestic + International arbitrations
PCA
- Secretariat (appoints arbitrators)
- Ad hoc tribunals
- Admin body
CIETAC
SIAC
- Model Law
- Global list of arbitrators
- Responsive to consumers
- Summary dismissal procedure
SCC
- Case admin (high quality)
- Investment arbitrations
What are the different arbitral institutions?
ICC
- Secretariat (assists court, daily admin)
- Emergency arbitrator appointment
- Terms of Reference (framework for entire arbitration)
- Adequate reasoning in award
LCIA
- Emergency arbitrator appointment
- Expedited tribunal formation
- Business friendly/Non bureaucratic
- More detailed than ICC Rules
ICSID
- ICSID Convention (states already party > no need to ask to participate in arbitration)
- BIT/NAFTA
- International arbitrations (not domestic)
AAA/ICDR
- Case admin (not hands-on)
- Business friendly/Non bureaucratic
- Domestic + International arbitrations
PCA
- Secretariat (appoints arbitrators)
- Ad hoc tribunals
- Admin body
CIETAC
SIAC
- Model Law
- Global list of arbitrators
- Responsive to consumers
- Summary dismissal procedure
SCC
- Case admin (high quality)
- Investment arbitrations
