The arbitration clause This clause is related to the problem of the settlement of disputes arising from the non-performance or the improper performance of international trade contracts. Generally, in all systems of law the courts of law have jurisdiction to settle these disputes, especially the court of law from the place where the headquarters of the defendant are situated. However, there are some exceptions provided by the procedural law of the states. Thus, for example, the court of law
Words: 2212 - Pages: 9
ACTS THE ARBITRATION AND CONCILIATION ACT, 1996 No.26 of 1996 [16th August, 1996] An Act to consolidate and amend the law relating to domestic arbitration, international commercial arbitration and enforcement of foreign arbitral awards as also to define the law relating to conciliation and for matters connected therewith or incidental thereto. WHEREAS the United Nations Commission on International Trade Law (UNCITRAL) has adopted the UNCITRAL Model Law on International Commercial Arbitration in 1985:
Words: 16551 - Pages: 67
Agreement: Mediation and Arbitration Agreement Dear [Name of ABC Company Employee]: Although ABC Company hopes that employment disputes with its employees will not occur, ABC believes that when these disputes do arise, it is in the mutual interest of all concerned to handle them promptly and with a minimum of disturbance to the operations of ABC's businesses and the lives of its employees. Accordingly, to provide for more expeditious resolution of certain employment-related disputes that may
Words: 2734 - Pages: 11
1. Jackson filed the lawsuit instead of going to arbitration because he claimed "that the Agreement to arbitrate is unconscionable under Nevada law and is unenforceable" (Reed, Pagnattaro, Cahoy, Shedd & Morehead, 2012, pg.140). 2. Rent-A-Center wants to dismiss the lawsuit, ultimately because they don't want to have to pay Mr. Jackson anything. But their reasoning is that "the issue of unconscionability and unenforceability are matters for the arbitrator, not the courts, to decide" (Reed
Words: 366 - Pages: 2
Foundation of International Commercial Arbitrations Shaimaa Nasr Eldin ESLSCA Business School International Business law Foundation of the International Commercial Arbitrations Abstract. This paper analyzes the foundation of the international commercial arbitration, as a phenomenon widely used by most of the corporations among the world as a dispute settlement mechanism. You will see that it is one of many possible procedures for the settlement of disputes in regard to economic transactions.
Words: 7768 - Pages: 32
Bangladesh Council of Arbitration (BCA) was established as an arbitral body. The BCA rules have not yet been finalised. Arbitration in Bangladesh is governed by the Arbitration Act 2001. This is based on the UNCITRAL model law. Bangladesh is a party to the New York Convention. In practice, however, there are difficulties in enforcing arbitration awards in Bangladesh. The difficulty is greater if it is a foreign party seeking to enforce an award against a local party. Where the arbitration is convened abroad
Words: 1620 - Pages: 7
International commercial arbitration is an alternative dispute resolution mechanism of solving disputes arises out of international trade and commerce. It has been vastly developed as one of the most efficient and preferable method of commercial dispute resolution internationally and resulting in the involvement of parties from around the globe that come from different legal systems. Now a day’s developing countries institutions are increasingly entering the IP market, and multiparty, multinational
Words: 11454 - Pages: 46
Arbitration is commonly used to resolve disputes when the parties cannot come to an agreement when disagreements take place. Because State Farm and the consumer cannot agree, both parties should request an arbitrator to settle their dispute. In this scenario, State Farm Mutual Automobile Insurance Company did not demand that arbitration be recognized. Arbitration should be an option to the discretion of both parties. Most of the time, it is an option, nevertheless, printed in such small lettering
Words: 266 - Pages: 2
FORFAITING A USER'S GUIDE WHAT IT IS, WHO USES IT AND WHY? By: John F Moran, Jr. Abstract Italian and West German exporters have long been familiar with Forfaiting and still provide the bulk of the market. UK, Scandinavian, Spanish and French exporters are latching onto the possibilities of the technique with enthusiasm. The American and Canadians, meanwhile, have been slow to catch on (some Forfaiters think it is because they are suspicious of its simplicity coupled with a lack of complex documentation)
Words: 2118 - Pages: 9
Randolph The Legal Environment of Business Abstract This paper is a brief introduction and discussion about a Supreme Court case- Greentree Corp. Ala. v. Randolph, which focuses on Contract Law and some concepts of arbitration. There are also some personal analysis and view about the case. Finally, some inspirations will be listed as impressions and for further discussion. Finally, a brief conclusion will be summarized at the end of the paper. The paper aims at restoring
Words: 1957 - Pages: 8
