international arbitration law

It refers to the process of resolving disputes between parties from different countries through arbitration rather than through traditional court litigation. It is a method of alternative dispute resolution that takes place outside of national court systems and involves the use of arbitrators who act as private judges to make binding decisions. In this, the parties voluntarily agree to submit their dispute to arbitration, typically by including an arbitration clause in their contract or by signing a separate arbitration agreement. The arbitration process is governed by agreed-upon rules, often established by international arbitration institutions, which provide a framework for conducting the proceedings.

Nature and scope
International Nature: It deals with disputes that have a cross-border dimension, involving parties from different countries, and this is what distinguishes it from domestic arbitration, which involves disputes within the boundaries of a single country.
Voluntary and Consensual: It is a consensual process, meaning that the parties voluntarily agree to submit their dispute to arbitration.
Neutrality and Impartiality: It is designed to provide a neutral and impartial forum for dispute resolution. Arbitrators, who act as private judges, are expected to be independent and unbiased in their decision-making.
Flexibility and Party Autonomy: It offers flexibility in terms of procedures, rules, and choice of arbitrators.

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