Shadow

Where Has International Commercial Arbitration Come From?

Where Has International Commercial Arbitration Come From?

Where Has International Commercial Arbitration Come From?

Where Has International Commercial Arbitration Come From?
Where Has International Commercial Arbitration Come From?

If we want to fully understand the current role of international trade mediation and what form it is likely to take in

the future, it is important to look at the past developments underlying our current arbitration system.

need to understand the past to understand the future.

Arbitration is the judiciary, born of traders.

Where Has International Commercial Arbitration Come From?

Where Has International Commercial Arbitration Come From?
Where Has International Commercial Arbitration Come From?

The first law dedicated to arbitration in England was in 1697. In France, the French Revolution recognized mediation

as a minor nature and the 1791 constitution proclaimed the constitutional right of citizens to resort to mediation.

. The origins of the concept of arbitration in France were

established by the barracks to settle disputes between the ancient courts of P. Boudreau (French Pied Poudrax,

meaning vagabond). Merchants in market days .. Arbitration sources date back to ancient times, dispute resolution

applications in Europe, Greece, and Rome, including Roman law in Asia.

Where Has International Commercial Arbitration Come From?

arbitration at that time.

long been a center for international trade mediation, shipping, insurance, freight, and financing businesses.

In 1883 the City Council of London Commonwealth Court set up a committee to consider the establishment of a

tribunal to mediate trans-national commercial disputes arising within the City. The initiative came from the London

Business Association, which is becoming increasingly dissatisfied with the slow and costly process of litigation in

English courts.

Where Has International Commercial Arbitration Come From?

and the need for international norms to justify and support the mediation process.

As world trade expands, the need to create a mechanism for the international recognition and implementation of

 

Where Has International Commercial Arbitration Come From?

Where Has International Commercial Arbitration Come From?
Where Has International Commercial Arbitration Come From?

The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (“NYC”) was approved in

1958. The NYC provides for the international recognition and enforcement of arbitration agreements and awards

through national courts

represents a quantum leap for international mediation. Lord Musial described the NYC as a convention: “Probably

the most influential example of international law in the entire history of commercial law”. NYC’s success is explained

d by 3 factors:

144 countries have signed up to the NYC;
An organization of international case law has been developed to apply the NYC, which has had a direct impact on

international arbitration practice and law;
It is agreed that arbitration and arbitration award agreements will be enforced by the courts of NYC countries.

Where Has International Commercial Arbitration Come From?As international mediation increased and the NYC influence and benefits became clearer, new arbitration firms

began to create affiliates for temporary arbitrations. Each organization has its own mediation rules and policies and

a large number of intermediaries, the major institutions are: China International Commission on Economic and

Trade Arbitration (“CIETAC”), headquartered in Beijing (established in 1956); Hong Kong International Arbitration

Center (“HKIAC”), based in Hong Kong (established in 1985); Singapore

International Arbitration Center (“SIAC”), established (established) in Singapore

Leave a Reply

Your email address will not be published.