Forms of Arbitration in International Trade
Law Annals, Titu Maiorescu University, Forthcoming
Posted: 1 Aug 2011
Date Written: August 1, 2011
Commercial arbitration is an alternative way of solving the patrimonial disputes (which can be estimated in money) stemming from acts and deeds of trade. The disputes are assigned to be solved, according to the agreement between the parties, to arbitrators chosen by the parties, whose task is to judge the dispute and give a ruling, which the parties undertake to execute. Inserting the arbitration provision in a commercial contract entitles the interested party, in case of dispute, to request its solving by means of arbitration, therefore excluding the competence of law courts.
Keywords: Rules of Arbitration, United Nations Commission for International Trade Law, international conventions on arbitrage, Ad-hoc arbitration, Institutional arbitration
JEL Classification: K10
Suggested Citation: Suggested Citation