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Arbitration
Arbitration is a formal method of dispute resolution involving a third party neutral who makes a binding decision. The third party neutral (the 'arbitrator', 'arbiter' or 'arbitral tribunal') renders the decision in the form of an 'arbitration award'. An arbitration award is legally binding on both sides and enforceable in local courts, unless all parties stipulate that the arbitration process and decision are non-binding. Arbitration is often used for the resolution of Commercial law, commercial disputes, particularly in the context of International commerce, international commercial transactions. In certain countries, such as the United States, arbitration is also frequently employed in consumer and employment matters, where arbitration may be mandated by the terms of employment or commercial contracts and may include Class action waiver, a waiver of the right to bring a class action claim. Mandatory consumer and employment arbitration should be distinguished from consensu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbitration Clause
In contract law, an arbitration clause is a clause in a contract that requires the parties to resolve their disputes through an arbitration process. Although such a clause may or may not specify that arbitration occur within a specific jurisdiction, it always binds the parties to a type of resolution outside the courts, and is therefore considered a kind of forum selection clause. Arbitration clauses are frequently paired with class action waivers, which prevent contracting parties to file class action lawsuits against each other. In the United States, arbitration clauses also often include a provision which requires parties to waive their rights to a jury trial. All three provisions have attained significant amounts of support and controversy, with proponents arguing that arbitration is as fair as courts and a more informal, speedier way to resolve disputes, while opponents of arbitration condemning the clauses for limited appeal options and allowing large corporations to ef ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbitral Tribunal
An arbitral tribunal or arbitration tribunal, also arbitration commission, arbitration committee or arbitration council is a panel of adjudicators which is convened and sits to resolve a dispute by way of arbitration. The tribunal may consist of a ''sole arbitrator'', or there may be two or more arbitrators, which might include a chairperson or an umpire. The tribunal usually consists of an odd number of arbitrators. Members selected to serve on an arbitration panel are typically professionals with expertise in both law and in ''friendly dispute resolution'' (mediation). Some scholars have suggested that the ideal composition of an arbitration commission should include at least also one professional in the field of the disputed situation, in cases that involve questions of asset or damages valuation for instance an economist. The parties to agree on arbitration are usually free to determine the number and composition of the arbitral tribunal. Many jurisdictions have laws with gen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbitration Award
An arbitration award (or arbitral award) is a final determination on the jurisdiction, merits, costs or other aspect of a dispute by an arbitration tribunal in an arbitration, and is analogous to a judgment in a court of law. It is referred to as an 'award' even where all of the claimant's claims fail (and thus no money needs to be paid by either party), or the award is of a non-monetary nature. Damages and other remedies Although a successful party in arbitration will typically be awarded compensation or damages, tribunals usually have a range of remedies that can form a part of the award. #the tribunal may order the payment of a sum of money (conventional damages) #the tribunal may make a " declaration" as to any matter to be determined in the proceedings #in most jurisdictions, the tribunal has the same power as a court to: ##order a party to do or refrain from doing something (" injunctive relief") ##to order specific performance of a contract ##to order the rectification, s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Convention On The Recognition And Enforcement Of Foreign Arbitral Awards
The Convention on the Recognition and Enforcement of Foreign Arbitral Awards, commonly known as the New York Convention, was adopted by a United Nations diplomatic conference on 10 June 1958 and entered into force on 7 June 1959. The Convention requires courts of contracting Sovereign state, states to give effect to private agreements to arbitration, arbitrate and to recognize and enforce arbitration awards made in other contracting states. Widely considered the foundational instrument for international arbitration, it applies to arbitrations that are not considered as domestic awards in the state where recognition and enforcement is sought. The New York Convention is very successful. Nowadays many countries have adopted arbitration laws based on the United Nations Commission on International Trade Law, UNCITRAL UNCITRAL Model Law on International Commercial Arbitration, Model Law on International Commercial Arbitration. This works with the New York Convention so that the provis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent to transfer of goods, services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract may be referred to as contracting. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or equitable remedies such as specific performance or rescission. A binding agreement between actors in international law is known as a treaty. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Like other areas of private law, contract law varies between jurisdictions. In general, contract law is exercised and governed either under common law jurisdictions, civil law jurisdictions, or mixed-law jurisdictions that combine elem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Class Action Waiver
A class action waiver is a provision found in some contracts which prohibits a party from filing a class action legal proceeding against the other party, or both parties waiving the right to file class actions against each other. Though used internationally, class action waivers, just like class action lawsuits, are predominantly an American phenomenon and most frequently both found and upheld in the United States and agreements with American citizens. Class action waivers may be found on a standalone basis, though they are more commonly found as part of an arbitration clause, and when paired with such clauses, frequently include jury trial waivers. All three clauses are the subject to controversy and wide legal debate, with supporters claiming the tools are strong risk management tools and the expense that class action litigation presents both in regard to time and money, though advocacy groups argue that these clauses reduce the rights of consumers and employees and prevent compan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
QRG On Arbitration, Conciliation And Mediation
''Quick Reference Guide on Arbitration, Conciliation & Mediation'' is a book authored by Vishnu S Warrier published by Lexis Nexis in 2015. The book studies the concept of arbitration Arbitration is a formal method of dispute resolution involving a third party neutral who makes a binding decision. The third party neutral (the 'arbitrator', 'arbiter' or 'arbitral tribunal') renders the decision in the form of an 'arbitrati ..., mediation and conciliation procedure in ancient India and present. Considering law students in mind, author did justice to conceptualize the alternative dispute resolutions such as arbitration, mediation and conciliation into an easily understanding language. Key concepts In pursuit of globalisation, India responded positively by opening up its economy. Along with the benefits promised, it also brought lots of issues. As we all know major concern of law is the conflict resolution. Traditional justice delivery system through the adjudication o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mediation
Mediation is a structured, voluntary process for resolving disputes, facilitated by a neutral third party known as the mediator. It is a structured, interactive process where an independent third party, the mediator, assists disputing parties in resolving conflict through the use of specialized communication and negotiation techniques. All participants in mediation are encouraged to participate in the process actively. Mediation is "party-centered," focusing on the needs, interests, and concerns of the individuals involved, rather than imposing a solution from an external authority. The mediator uses a wide variety of techniques to guide the process in a constructive direction and to help the parties find their optimal solution. Mediation can take different forms, depending on the mediator's approach. In facilitative mediation, the mediator assists parties by fostering communication and helping them understand each other's viewpoints. In evaluative mediation, the mediator may a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
High Court Of Arbitration Of Russia
The High Court of Arbitration of the Russian Federation (also translated as the Supreme Court of Arbitration or the Higher Arbitration Court; Russian: ) was the court of final instance in commercial disputes in Russia from 1992 to 2014. Additionally, it supervised the work of lower courts of arbitration and gave interpretation of laws and elucidations concerning their implementations, which are compulsory for lower courts. It was replaced by a 30-Judge Judicial Chamber for Commercial Disputes that is part of an expanded Russian Supreme Court effective August 8, 2014. History Commercial arbitrations in Russia existed long before the October Revolution, though their powers were very limited. They were abolished immediately after the revolution. In 1922 the Supreme Arbitration Commission, attached to the Councitate Arbitration of the USSR was to resolve disputes about contracts exchanged between enterprises subordinate to various governmental agencies. The disputes arising within ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dispute Resolution
Dispute resolution or dispute settlement is the process of resolving disputes between parties. The term ''dispute resolution'' is '' conflict resolution'' through legal means. Prominent venues for dispute settlement in international law include the International Court of Justice (formerly the Permanent Court of International Justice); the United Nations Human Rights Committee (which operates under the ICCPR) and European Court of Human Rights; the Panels and Appellate Body of the World Trade Organization; and the International Tribunal for the Law of the Sea. Half of all international agreements include a dispute settlement mechanism. States are also known to form their own arbitration tribunals to settle disputes. Prominent private international courts, which adjudicate disputes between commercial private entities, include the International Court of Arbitration (of the International Chamber of Commerce) and the London Court of International Arbitration. Methods Met ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expert Determination
Expert determination is a historically accepted form of dispute resolution invoked when there is not a ''formulated dispute'' in which the parties have defined positions that need to be subjected to arbitration, but rather both parties are in agreement that there is a need for an evaluation. Process Expert determination is described as a procedure by which the parties to a dispute (e.g. technical, scientific, or business dispute) appoint an independent and neutral expert to determine the dispute in private. Like arbitration, it allows trade secrets and other sensitive information to be kept out of the public domain. The expert will be a person with specialist or technical knowledge relevant to the dispute. His experience and professional knowledge are expected to help solve the dispute since legal arbitrators or the arbitral tribunal are often unable to resolve technical issues even with the help of expert witnesses. Unlike arbitration, not all of the evidence an expert considers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Litigation
A lawsuit is a proceeding by one or more parties (the plaintiff or claimant) against one or more parties (the defendant) in a civil court of law. The archaic term "suit in law" is found in only a small number of laws still in effect today. The term "lawsuit" is used with respect to a civil action brought by a plaintiff (a party who claims to have incurred loss as a result of a defendant's actions) who requests a legal remedy or equitable remedy from a court. The defendant is required to respond to the plaintiff's complaint or else risk default judgment. If the plaintiff is successful, judgment is entered in favor of the plaintiff, and the court may impose the legal or equitable remedies available against the defendant (respondent). A variety of court orders may be issued in connection with or as part of the judgment to enforce a right, award damages or restitution, or impose a temporary or permanent injunction to prevent an act or compel an act. A declaratory judgment m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
