Draft Of A Domestic Arbitration Agreement

September 17th, 2021

Although the seat of arbitration is usually the place of the proceedings, most institutional rules allow the court to hold hearings in any other place, without prejudice to the choice of judicial seat. However, since the arbitral award itself is generally made public in the State that the parties have chosen as their seat (regardless of where the arbitration can be heard), it is important to choose a jurisdiction in a country that has ratified the New York Convention in order to facilitate the enforcement of an arbitral award. It is for this reason, at least for this reason, that the parties should exercise caution when being asked by the arbitrators to change their chosen seat after the arbitration has started. The UNCITRAL rules have been in use since 1976 and have proved their worth. The ICC and the LCIA Rules have a long history and have introduced significant revisions that apply to all arbitration proceedings that commence after January 1, 1998. In making such a decision, the parties should take into account strategic, practical and legal criteria. Strategic criteria include neutrality and efficiency. In practice, neutrality is guaranteed by the seat of arbitration in a country that is not bound to either party. . . .

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