Co...: The Principles And Practice Of International

International Commercial Arbitration (ICA) is a private system of justice that bypasses national courts in favor of neutral, expert panels. 1. The Core Principles The entire system rests on a few foundational pillars:

The practice of International Commercial Arbitration is a delicate balance between contract law and international treaty. It provides the "legal glue" that allows global trade to function, offering a predictable and enforceable way to manage risk in an unpredictable world. The Principles and Practice of International Co...

The arbitration clause is legally distinct from the main contract. Even if the underlying contract is found to be void or terminated, the agreement to arbitrate remains valid so the dispute can still be resolved. It provides the "legal glue" that allows global

The Seat is the legal home of the arbitration (e.g., London or Singapore). Its laws govern the procedure and the court's power to intervene. The Venue is simply where the hearings physically take place. The Seat is the legal home of the arbitration (e

It avoids the "home-court advantage." A French company and a Japanese company might agree to arbitrate in Switzerland to ensure a level playing field.

An arbitral tribunal has the legal authority to rule on its own jurisdiction. If a party claims the arbitrators have no power to hear the case, the arbitrators themselves—not a court—usually decide that question first.