Year: 2012 Language: english Author: The Standard P&I Club Genre: Convention (rules) Format: PDF Quality: eBook Pages count: 16 Description: The selection of the place where the arbitration will be located (the ‘seat’ of the arbitration) is a key element in arbitration clauses since it will determine which procedural law will govern the arbitration (unless the parties expressly choose a different law). Therefore, local arbitration regulations will govern the scope of the arbitrator’s jurisdiction, the availability of interim measures, the extent of the disclosure or the right of a party to challenge an arbitral award. It also means that the local courts will have supervisory jurisdiction over the arbitration. Commercial parties will seek a jurisdiction that will enable proper and expeditious settlement of their disputes without undue interference with the arbitral process. Historically, London has been widely accepted as an attractive neutral venue for the resolution of contractual disputes. Several jurisdictions have developed as maritime and energy hubs, and have gained favour from shipowners as alternative places for arbitrations. We recommend that arbitration clauses are clear and concise.
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Arbitration Special Edition Bulletin
Language: english
Author: The Standard P&I Club
Genre: Convention (rules)
Format: PDF
Quality: eBook
Pages count: 16
Description: The selection of the place where the arbitration will be located (the ‘seat’ of the arbitration) is a key element in arbitration clauses
since it will determine which procedural law will govern the arbitration (unless the parties expressly choose a different law). Therefore, local
arbitration regulations will govern the scope of the arbitrator’s jurisdiction, the availability of interim measures, the extent of the disclosure or the right of a party to challenge an arbitral award. It also means that the local courts will have supervisory jurisdiction over the arbitration.
Commercial parties will seek a jurisdiction that will enable proper and expeditious settlement of their disputes without undue interference
with the arbitral process. Historically, London has been widely accepted as an attractive neutral venue for the resolution of
contractual disputes. Several jurisdictions have developed as maritime and energy hubs, and have gained favour from shipowners
as alternative places for arbitrations. We recommend that arbitration clauses are clear and concise.
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