Shreyah Mahajan, Christ (Deemed to be University)
ABSTRACT
International Commercial Arbitration has been utilized as a method of resolving disputes in commercial areas without involving the judicial process. The process of international commercial arbitration has improved over the past few decades. Through this process of improvement, international arbitration laws and procedures are harmonized globally. However, the argument over the relative merits of the theories of delocalization and localization is still up for debate. Whereas the territoriality or localization theory limits international arbitration, the delocalization theory frees it from all restrictions that might put a stop to its implementation. The localization principle may cause or result in major complexities and misunderstandings, while aid from the local or national court which may occasionally be required throughout the arbitration procedure. Although various new systems have been developed where the law of the local nation has become a burden to the global community which is in charge and is committed to the localization theory. As a result, the notion of delocalization continues to be relevant to international arbitration. In actuality, the delocalization theory is becoming more significant due to various novel methodologies, which is seen as its re-emergence.
This article aims to examines the theory of delocalization and the importance of party autonomy in the arbitration procedure. In this article, the idea of delocalization is examined along with its applicability in international commercial arbitration, with a focus on how it tends to liberalize national arbitration law. This article also analyses the Indian standpoint in the matters of delocalization in the context of International Commercial Arbitration.
