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International Arbitration and the Quest for the 2025

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The article by Giuditta Cordero Moss discusses the significance of private international law in international arbitration, emphasizing that it is not an outdated concept but rather essential for determining applicable laws in cross-border commercial contracts. It critiques the trend of omitting references to private international law in arbitration rules, arguing that such omissions can lead to unpredictability and unfavorable outcomes for businesses. The article highlights various scenarios where party autonomy may be restricted by national laws, including issues related to company law, insolvency, and public policy. Ultimately, it advocates for recognizing the relevance of private international law to ensure enforceable and predictable arbitration awards.

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What is the purpose of international arbitration?

The use of international arbitration has evolved to allow parties from different legal, linguistic and cultural backgrounds to resolve their disputes in a final and binding manner, typically without the formalities of the procedural rules of their own legal systems.

What are the benefits of international arbitration?

Key features of international arbitration Enforceability. One of the main advantages of international arbitration over litigation is that in most countries, international arbitration awards are easier to enforce than foreign court judgments. Neutrality. Privacy and Confidentiality. Choice of Arbitrators. Finality. Autonomy.

What does the International Court of Arbitration do?

The International Court of Arbitration is the worlds leading arbitral institution. Since 1923, we have been helping to resolve disputes in international commercial and investment disputes.

Why practice international arbitration?

Neutrality: A party to an international contract will often wish to avoid resolving disputes through the local courts of another party. Arbitration provides the opportunity for neutral dispute resolution (e.g., with international rules being applied by a multinational tribunal in a mutually acceptable venue).

What is the use of international arbitration?

between or among nations; involving two or more nations: international trade. of or relating to two or more nations or their citizens: a matter of international concern.

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What is the biggest problem of arbitration?

Disadvantages Questionable Fairness. Mandatory arbitration. Finality: No appeals. While this may be a positive if you find the arbitration decision favorable, you should be aware that if arbitration is binding, both sides give up their right to an appeal. Can be more expensive. Unpredictability: Unconventional outcomes.

What is the main purpose of arbitration?

The purpose of arbitration extends far beyond mere conflict resolution; it embodies a multifaceted approach aimed at fostering efficiency, fairness, and impartiality in the resolution of disputes outside the traditional court system.

International Arbitration and the Quest for the 2025

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What is the purpose of international arbitration?

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Why practice international arbitration?

What is the use of international arbitration?

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