Sentences with phrase «arbitral procedure»
The phrase "arbitral procedure" refers to a formal and organized way to resolve disputes or conflicts outside of a court of law. It involves using an arbitrator (a neutral third party) who listens to both sides of the dispute and makes a decision that is binding for both parties involved. It is an alternative to going to court and is used to reach a resolution in a fair and impartial manner. Full definition
The revision introduces major changes to the existing arbitral procedure under the DIS Rules and is the result of an extensive consultation process which lasted for almost two years.
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The distinction between an agreed arbitral procedure and an imposed court is important.
The new third edition of International Commercial Arbitration will comprehensively address all aspects of the international arbitral process — including international arbitration agreements, international arbitral procedures and international arbitral awards.
The term «arbitral procedure» encompasses the period beginning with the filing of an action and ending when the award is rendered.891 The application of the law by a tribunal, on the other hand, goes to the actual merits of a dispute and therefore falls outside the scope of review at the recognition and enforcement stage.892
581 (2004), where the court held that an arbitrator's failure to state reasons, as required by the rules of the American Arbitration Association agreed upon by the parties, was not considered part of the arbitral procedure.
Courts have exercised the residual discretion they enjoy under article V (1) and have rejected challenges based on an irregular composition of the tribunal where it is clear that a party had previously intended to frustrate the arbitral procedure.
It enables the courts of a Contracting State to refuse recognition and enforcement where the constitution of the arbitral tribunal or the arbitral procedure was not in accordance with the agreement of the parties or, in the absence of an agreement, with the law of the country where the arbitration took place.
Article V (1)(d) expressly affirms the supremacy of the parties» agreement concerning the composition of the tribunal and arbitral procedure, and that the law of the place of arbitration should apply only «failing such agreement.»
PCH relied on Article 34 (2)(a)(ii) and (iv) of the UNCITRAL Model Law, alleging that it was unable to present its case and that the arbitral procedure was not in accordance with the agreement of the parties.
We advise on all aspects of arbitration, from drafting suitable clauses to advising on the type and seat of arbitration, the formation of a tribunal, arbitral procedure and enforcement of the award.
[6] Article V (1)(d) New York Convention: «The composition of the arbitral authority or the arbitral procedure was not in accordance with the agreement of the parties, or, failing such agreement, was not in accordance with the law of the country where the arbitration took place -LSB-...].»
Arbitral procedures are established by the parties to the agreement for the benefit of those parties and, like procedures before the Courts, arbitral procedures include a clear obligation to act in good faith throughout.
Further, although any relevant institutional rules may set out a framework for the arbitral procedure, they tend to leave detailed procedural matters to be determined in individual cases.
Regardless of the authority conferred on the Tribunal in the Specific Claims Act, the Tribunal is clearly intended to be an alternative dispute resolution mechanism that is more like the arbitral procedures set out to resolve disputes in commercial contracts than a superior court.