Law 5110 Study Guide - Quiz Guide: Alternative Dispute Resolution, Soft Law, United Nations Commission On International Trade Law
Document Summary
Arbitration in general (i: alternative dispute resolution, strong focus on private party autonomy, for enforcement, we still need the state"s involvement. Confidentiality (particularly for business secrets: disadvantages. Multiple parties might have an interest in the case/difficult to join third parties without their consent. Arbitration in general (iii: types of arbitration. Ad hoc arbitration: the parties themselves (and the arbitrators they select) decide on all relevant procedural rules. Institutional arbitration: the rules and practices are created by an institution (e. g. icc, aaa, nai, viac) Various instruments: uncitral model law: is soft law (not legally binding). Relies on model law and through contract parties bind themselves to them. 1(1): the law applies to international commercial arbitration. The states can use as the basis for their national law: party autonomy and contractual freedom: default rules, the parties can opt out of them, art. 5: limits the supervisory role of the courts. 7: requires the arbitration agreement to be in writing: art.
