The Convergence of Renewed Nationalization, Rising Commodities, and "Americanization" in International Arbitration and the Need for More Rigorous Legal and Procedural Defenses by ProQuest

VIEWS: 3 PAGES: 42

Because of the lack of supervision, administration, and structure provided by a governing body, parties must be more careful in planning an ad hoc arbitration.12 International commercial arbitration grew from the need to find a suitable dispute resolution system for parties in the international trade, commerce, and investment that blossomed after the conclusion of World War II.13 International commercial arbitration allayed three distinct concerns about litigation before local judiciaries: (1) the perception that local courts would be biased in favor of a domestic party; (2) the uncertainties involved in appellate review of a foreign judgment; and (3) the inability to enforce a foreign judgment domestically or abroad.14 If a state or state-controlled entity is a party to the transaction, these concerns are particularly acute.15 Accordingly, the desire of each party to avoid having a dispute determined by a foreign judicial forum fueled the growth of international commercial arbitration. Arbitration is preferred over judicial methods of dispute resolution because the parties have considerable freedom and flexibility with regard to choice of arbitrators, location of the arbitration, procedural rules for the arbitration, and the substantive law that will govern the relationship and rights of the parties.20 B. Arbitral Proceedings As noted above, one of the benefits of arbitration is that unlike litigation, particularly American litigation, arbitration affords the parties considerable freedom, flexibility, and control over the proceedings and is designed to assure that parties from different jurisdictions can have their disputes heard and resolved in an efficient and neutral fashion.\n Because of the increasing use of partyappointed experts, their lack of neutrality (whether real or perceived) and the specialization and complexity of the issues, new disclosure procedures specific to expert witnesses may be helpful additions to arbitral procedures, enshrined either in t

More Info
To top