The arbitration agreement itself is the main source of arbitration rules. Parties to this private agreement generally have the right to enshrine in the arbitration clause the rules they wish to regulate, the manner in which disputes are resolved. In practice, this means that a company that chooses to make arbitration mandatory for its employees or consumers writes the rules of the procedure and that the worker or consumer will have no choice but to accept if he wishes to enter into an employment or consumer policy deal. The number of referees is … (one or three). The arbitration procedure is set in place … (Insert a language) Editor`s Note: As companies become increasingly active in international trade and investment, international arbitration is recognized as a preferred option in cross-border litigation. However, international arbitration, which differs from domestic arbitration with complex procedures, often puts parties who are not aware of its rules at an inherent disadvantage. The international arbitration teams of King and Wood Mallesons are located in Beijing, Shanghai, Shenzhen, the Hong Kong Special Administrative Region in China, Sydney, Melbourne, Perth, London, Madrid, Brussels, Dubai, Tokyo, New York and Silicon Valley. KWM International Arbitration Fundamentals is organized by the international arbitration teams of King and Wood Mallesons in China and Australia.
The objective of the program is to share knowledge and experience in international arbitration, including international commercial arbitrations and investment arbitrations, from the perspective of experienced lawyers. I hope it will benefit the parties involved in international arbitration. Please comment with suggestions or ideas. —————————————————————————————————————— arbitration agreement is the cornerstone of international commercial arbitration, which records the consent of the parties to submit the dispute for arbitration. Such consent is the precondition for the proper conduct of the arbitration process and for the recognition and enforcement of arbitration awards. Initially, the authors, commentators and the courts assumed that the FAA applied only to a wide range of commercial disputes – those that were brought before a federal court because of its power to rule on issues arising under federal law. However, in the 1980s, the U.S. Supreme Court radically expanded the scope of the statute. Today, the courts interpret the law to apply to all kinds of litigation, whether in a federal court or a state court.
In addition, the Supreme Court ruled that the FAA suspended any state law contrary to the FAA`s pro arbitration policy. It is important to tell the story of the path on which this transformation took place, as it shows how deeply rooted the current interpretation has become and how overwhelming the barriers that can be changed under the statute, as they are currently interpreted, are overwhelming. This explains why new congressional measures are needed. The third article in the „AI Fundamentals“ series discussed the legal framework for international trade arbitrations on the basis of the New York Agreement. Such a framework has created a „pro-arbitration“ system for the recognition and enforcement of international trade arbitration agreements. However, the New York Convention applies only to arbitration agreements with the following characteristics: the negative effect is the duty for the judge to reject, without prejudice, any appeal made in relation to an object under an arbitration agreement, unless the other party does not object to the competent court.3 The positive effect: On the other hand, it is necessary to distinguish the seat of arbitration and the place/place of arbitration and to pay particular attention to the choice of seat of the arbitration procedure The most important attempt to deal with compulsory arbitration at the federal level was the proposed Fair Arbitration Act (AFA).