The Principles And Practice Of International Co... May 2026

After a merits hearing involving cross-examination, the tribunal issues a "Final Award." This award is final and binding, with very limited grounds for appeal (usually only for procedural unfairness, not for a "wrong" decision). 3. Why Businesses Choose Arbitration

The arbitration clause is legally distinct from the main contract. Even if the underlying contract is found to be void or terminated, the agreement to arbitrate remains valid so the dispute can still be resolved. The Principles and Practice of International Co...

Practitioners and companies prefer ICA over national litigation for several strategic reasons: Even if the underlying contract is found to

Instead of rigid rules of civil procedure, the tribunal issues "Procedural Order No. 1," which sets the timetable for briefs, document production (discovery), and witness statements. The Seat is the legal home of the arbitration (e

The Seat is the legal home of the arbitration (e.g., London or Singapore). Its laws govern the procedure and the court's power to intervene. The Venue is simply where the hearings physically take place.

Because of the New York Convention, it is often easier to enforce an arbitral award globally than it is to enforce a national court judgment. Conclusion