Contribution Of National Court In International Commercial Arbitration: A Comprehensive Study
- IJLLR Journal
- Jun 7
- 2 min read
Vrinda Tekriwal, BA LLB, Asian Law College, Noida
1. INTRODUCTION
The term International Commercial Arbitration (ICA) has been well-defined as the process of resolving the dispute between the two or more disputed parties of diverse countries through an arbitrator or the board of arbitrators. The process of arbitration includes submissions of the disputes through the writing to the arbitration rather than, pursuing of the litigation in the court of law International commercial arbitration is the process to resolve the dispute between the two or more parties of various countries involved in various related contract, intellectual property, investment, trade or for the construction purpose. The first and foremost step, in the international commercial begins with the signing of the arbitration agreement by both the parties entering together, forming a contract. After the signing of the arbitration agreement, where both the parties agree to resolve the dispute arising between them through the process of the arbitration instead of suing each other through the process of litigation in the court of law. The arbitrator or the panel of the arbitrators are guaranteed to perceive the arguments or the disputes that has been arisen, between both of the parties. After listening to such arguments, the arbitrator or the panel of the arbitrator makes the decision resolving the dispute. The decision made by the arbitrator is of biding in nature in order to maintain the social efficacy between both the parties. The decision of the arbitrator is final and can be challenged only under the limited circumstances in the court of law. Various International conventions have been established such as United Nations Commission on International Trade Law (UNCITRAL) Model Law for governing the general principles of International Commercial Arbitration.
