Topic 8: Dispute Resolution Flashcards
1
Q
Will the decision in an Arbitration be binding?
A
YES
2
Q
What is ad hoc arbitration?
A
A form of arbitration in which you are free to choose your own rules to be followed
3
Q
How can you ensure an arbitration?
A
Must include an arbitration clause into the contract, must be mutually agreed to
4
Q
What is a submission agreement?
A
An agreement as to where an arbitration would be heard, which ‘court’ and which country
5
Q
What is institutionalised arbitration?
A
When the arbitration will follow the procedure of a specific institution, rather than of the parties as in ad hoc
6
Q
How does the New York Convention help arbitrations?
A
1) Applied in over 100 countries
2) Forces arbitration award
3) Enforces cross border awards, which alternative courts may not have power in
