dispute settlement Flashcards
what is arbitration?
a form of dispute resolution where the involved parties agree to settle through an arbitrator. the arbitrator’s decision is binding and cannot be appealed
why arbitration
- customizable
- efficient+quicker
- confidential
how is arbitration customizable?
- both parties choose rules governing the arbitral proceedings
- place of arbitration
- language of arbitration
- number of arbitrators
types of arbitration
- institutional
- Ad-Hoc
what is institutional arbitration?
conducted under the rules of a specific institution
example of institutional arbitration
CRCICA
what is Ad-hoc arbitration?
no institutional oversight
allowed cases for arbitration
civil and commercial law only,, but criminal cases no
types of arbitration agreements
- arbitration clause
- separate agreement
what is arbitration clause
clause in the contract specifying that arbitration is the chosen method for resolving future disputes
what is separate agreement
standalone agreement to arbitrate a dispute after it happens
what is arbitral tribunal
- the panel of arbitrators chosen to solve
- one or more
- is an odd number
- each party nominates one arbitration and together choose a third
types of international tribunals
1.Internatial court of justice
2. international criminal court
3. world trade organization
4.ICSID
what does icj do
resolved legal disputes between states and gives advisory opinion to UN against agencies
what does icc do
ties individuals for serious international crimes, they intervene when national courts fail to act
