BUS-294 Lecture Notes - Lecture 7: United Nations Commission On International Trade Law, Precedent, University Of Sussex

• School: Diablo Valley College
• Department: Business Accounting/Management/Marketing/Real Estate
• Course: BUS-294
• Professor: Miller

Document Summary

The current statute governing arbitration is the arbitration act (1996) The current act is based upon the uncitral model law on commercial. Arbitration which was also revised and improved in 2006. It tried to create a more uniform international commercial law. Under the 1980 arbitration act court could challenge arbitration ruling. This provided little incentive to try arbitration. Today there are more limited grounds when uk courts can challenge arbitration rulings. Such as when it can be proven there was an biased arbitrator. You can have your arbitration litigated in other countries (singapore, australia) It would still have united kingdom law applied to the situation. The rules of arbitration could be better in a different country or cheaper. The arbitrator panel is made of three arbitrators. One arbiter is chosen by each party and the third is a joint agreement of the two appointed arbitrator. They usually have expertise in the area of dispute.