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Essay

Arbitration

Essay specific features

 

Issue:

Business

 

Written by:

Margie T

 

Date added:

July 27, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 1110

 

Was viewed:

1084 times

 

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Essay content:

Third, arbitration produces a definitive and binding award, which is capable of enforcement through national courts. Another defining characteristic of arbitration is its flexibility, which generally permits parties to agree upon the procedures that will govern the resolution of their dispute. As a consequence, the procedural conduct of arbitrations varies dramatically across industrial sectors, arbitral institutions, and categories of disputes...
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As a consequence, the procedural conduct of arbitrations varies dramatically across industrial sectors, arbitral institutions, and categories of disputes. In particular fields, or individual cases, parties often agree upon procedural rules that are tailor-made for their individual needs. A side from specialized fields, commercial arbitration often bears significant resemblances to commercial litigation: arbitration will usually involve the submission of written pleadings and legal argument, the presentation of written evidence and (usually) oral testimony, the application of "law" (in the form of judicial precedents and statutes), and the rendition of a binding award...
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