Which statement about the arbitration procedure is true?
First, any valid arbitration agreement must reflect the conscious, mutual and free will of the parties to resort to arbitration and not to other means of dispute resolution, including State courts.18 The consent of both parties to submit their dispute to arbitration is the cornerstone of arbitration.19 Show
The below ICC Rules of Arbitration entered into force on 1 January 2021. They define and regulate the management of cases received by the International Court of Arbitration® from 1 January 2021 on. The ICC Arbitration Rules are used all around the world to resolve disputes. They assure parties of a neutral framework for the resolution of cross-border disputes. ContentINTRODUCTORY PROVISIONSArticle 1: International Court of Arbitration1) Article 2: DefinitionsIn the Rules: (i) “arbitral tribunal” includes one or more arbitrators; Article 3: Written Notifications or Communications; Time Limits1) COMMENCING THE ARBITRATIONArticle 4: Request for Arbitration1) a) the name in full, description, address and other contact details of each of the parties; 4) a) make payment of the filing fee required by Appendix III (“Arbitration Costs and Fees”) in force on the date the Request is submitted; and In the event that the claimant fails to comply with either of these requirements, the Secretariat may fix a time limit within which the claimant must comply, failing which the file shall be closed without prejudice to the claimant’s right to submit the same claims at a later date in another Request. Article 5: Answer to the Request; Counterclaims1) a) its name in full, description, address and other contact details; The respondent may submit such other documents or information with the Answer as it considers appropriate or as may contribute to the efficient resolution of the dispute. a) a description of the nature and circumstances of the dispute giving rise to the counterclaims and of the basis upon which the counterclaims are made; The respondent may submit such other documents or information with the counterclaims as it considers appropriate or as may contribute to the efficient resolution of the dispute. Article 6: Effect of the Arbitration Agreement1) (i) where there are more than two parties to the arbitration, the arbitration shall proceed between those of the parties, including any additional parties joined pursuant to Article 7(1), with respect to which the Court is prima facie satisfied that an arbitration agreement under the Rules that binds them all may exist; and The Court’s decision pursuant to Article 6(4) is without prejudice to the admissibility or merits of any party’s plea or pleas. MULTIPLE PARTIES, MULTIPLE CONTRACTS AND CONSOLIDATIONArticle 7: Joinder of Additional Parties1) a) the case reference of the existing arbitration; The party filing the Request for Joinder may submit therewith such other documents or information as it considers appropriate or as may contribute to the efficient resolution of the dispute. 5) Article 8: Claims Between Multiple Parties1) Article 9: Multiple ContractsSubject to the provisions of Articles 6(3)-6(7) and 23(4), claims arising out of or in connection with more than one contract may be made in a single arbitration, irrespective of whether such claims are made under one or more than one arbitration agreement under the Rules. Article 10: Consolidation of ArbitrationsThe Court may, at the request of a party, consolidate two or more arbitrations pending under the Rules into a single arbitration, where: a) the parties have agreed to consolidation; or In deciding whether to consolidate, the Court may take into account any circumstances it considers to be relevant, including whether one or more arbitrators have been confirmed or appointed in more than one of the arbitrations and, if so, whether the same or different persons have been confirmed or appointed. When arbitrations are consolidated, they shall be consolidated into the arbitration that commenced first, unless otherwise agreed by all parties. THE ARBITRAL TRIBUNALArticle 11: General Provisions1) Article 12: Constitution of the Arbitral TribunalNumber of Arbitrators 2) Sole Arbitrator Three Arbitrators Article 13: Appointment and Confirmation of the Arbitrators1) a) one or more of the parties is a state or may be considered to be a state entity; 5) Article 14: Challenge of Arbitrators1) Article 15: Replacement of Arbitrators1) 5) THE ARBITRAL PROCEEDINGSArticle 16: Transmission of the File to the Arbitral TribunalThe Secretariat shall transmit the file to the arbitral tribunal as soon as it has been constituted, provided the advance on costs requested by the Secretariat at this stage has been paid. Article 17: Party Representation1) Article 18: Place of the Arbitration1) Article 19: Rules Governing the ProceedingsThe proceedings before the arbitral tribunal shall be governed by the Rules and, where the Rules are silent, by any rules which the parties or, failing them, the arbitral tribunal may settle on, whether or not reference is thereby made to the rules of procedure of a national law to be applied to the arbitration. Article 20: Language of the ArbitrationIn the absence of an agreement by the parties, the arbitral tribunal shall determine the language or languages of the arbitration, due regard being given to all relevant circumstances, including the language of the contract. Article 21: Applicable Rules of Law1) Article 22: Conduct of the Arbitration1) Article 23: Terms of Reference1) Article 24: Case Management Conference and Procedural Timetable1) Article 25: Establishing the Facts of the Case1) Article 26: Hearings1) Article 27: Closing of the Proceedings and Date for Submission of Draft AwardsAs soon as possible after the last hearing concerning matters to be decided in an award or the filing of the last authorized submissions concerning such matters, whichever is later, the arbitral tribunal shall: Article 28: Conservatory and Interim Measures1) Article 29: Emergency Arbitrator1) a) the arbitration agreement under the Rules was concluded before 1 January 2012; 7) Article 30: Expedited Procedure1) 2) 3) AWARDSArticle 31: Time Limit for the Final Award1) Article 32: Making of the Award1) Article 33: Award by ConsentIf the parties reach a settlement after the file has been transmitted to the arbitral tribunal in accordance with Article 16, the settlement shall be recorded in the form of an award made by consent of the parties, if so requested by the parties and if the arbitral tribunal agrees to do so. Article 34: Scrutiny of the Award by the Court Article 35: Notification, Deposit and Enforceability of the Award1) Article 36: Correction and Interpretation of the Award; Additional Award; Remission of Awards1) COSTSArticle 37: Advance to Cover the Costs of the Arbitration1) Article 38: Decision as to the Costs of the Arbitration1) MISCELLANEOUSArticle 39: Modified Time Limits1) Article 40: WaiverA party which proceeds with the arbitration without raising its objection to a failure to comply with any provision of the Rules, or of any other rules applicable to the proceedings, any direction given by the arbitral tribunal, or any requirement under the arbitration agreement relating to the constitution of the arbitral tribunal or the conduct of the proceedings, shall be deemed to have waived its right to object. Article 41: Limitation of LiabilityThe arbitrators, any person appointed by the arbitral tribunal, the emergency arbitrator, the Court and its members, ICC and its employees, and the ICC National Committees and Groups and their employees and representatives shall not be liable to any person for any act or omission in connection with the arbitration, except to the extent such limitation of liability is prohibited by applicable law. Article 42: General RuleIn all matters not expressly provided for in the Rules, the Court and the arbitral tribunal shall act in the spirit of the Rules and shall make every effort to make sure that the award is enforceable at law. Any claims arising out of or in connection with the administration of the arbitration proceedings by the Court under the Rules shall be governed by French law and settled by the Paris Judicial Tribunal (Tribunal Judiciaire de Paris) in France, which shall have exclusive jurisdiction. What is the procedure for arbitration?Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to an arbitrator or to a tribunal of several arbitrators who give a decision on the dispute that is binding on the parties.
What is true arbitration?Arbitration is adjudicatory, as opposed to advisory, because of the fact that the arbitrator (usually a retired judge or attorney) renders a decision at the end of an arbitration hearing, and that decision is final and binding, subject only to a very limited court review.
Which statement describes one of the features of arbitration?Which statement describes one of the features of arbitration? Arbitration can be adopted at any point in a dispute if the parties agree. What term refers to the crucial rules in each province that set out specific time periods within which to commence a lawsuit?
What is arbitration answer?Under most arbitration rules, an Answer or Response to a Request for Arbitration must include the respondent's name and contact details, the name and contact details of its representative, its preliminary comments on the dispute, its response to the relief sought by the claimant, its observations and proposals ...
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