Essential Elements Of An Arbitration Agreement

Tom Halket has more than 40 years of experience advising domestic and foreign clients in general and commercial affairs. He has also acted as an arbitrator in more than 100 cases and is currently working on another book on the resolution of IP disputes in the United States. To make an appointment with Mr. Halket, send a request here or call 646-650-2025. The formation of an arbitration agreement takes place when two parties enter into a contract and in which, the contract stipulates that any dispute between the parties to be resolved without the courts with the help of a neutral person, a third party, appointed by both parties, known as the arbitrator who would act as a judge. The appointed arbitrator should have been mentioned in advance in the contract they entered into. You should also indicate who should choose the arbitrator with respect to the type of dispute on which the arbitrator should make decisions, where the arbitration would take place. In addition, they should also indicate the other types of procedures that need to be mentioned or needed during an arbitration agreement. An arbitration agreement must be made in writing. An arbitration agreement is considered written[ii] if it is: individual selection of the arbitrator.

Perhaps the most important issue that can be addressed in the arbitration agreement is the selection of arbitrators. There are several possible elements for the choice of the tribunal, namely the number of arbitrators, the qualifications or attributes of the arbitrators, the method of selection and the conditions that the parties wish to impose for the service. The choice of seat and venue for the hearings. The location of the hearings is the place where the court will meet physically during the hearings. The seat of arbitration is the place where the laws generally regulate the procedural aspects of arbitration. The choice of seat may have an impact on the outcome of the arbitration and may be of paramount importance. When all hearings are to be held in the same location, the location of the hearings is generally considered a seat. While the location of the hearings does not affect the designation of the seat, most of the issues relating to the location of the hearings are non-legal tactical issues that deal with issues such as accommodation for parties and witnesses and costs. c. The agreement must take into account the fact that the material rights of the parties are determined by the Court of Arbitration. The Court`s decision is consistent with its position in favour of arbitration in general, always subject to clear evidence of the primary consent of the parties to conciliation. The increasing number of arbitration rules and institutions makes it even more desirable for the parties to rely on the arbitration clause proposed by most arbitration institutions or arbitration rules, in order to avoid such situations that could potentially seriously delay the arbitration process, and to leave it to the relevant arbitration rules to fill the gaps.

The Swiss Supreme Court recognized the jurisdiction of the CAS and upheld its distinction. It pointed out that while primary written consent to conciliation (Article PILA 178 (1)) was necessarily to reflect the converging agreement between the parties on all key elements (essentialia negotii) of arbitration, it should not necessarily include other non-essential points.