Dr. Chanjana Elsa Philip & Harshitha G T, School of Legal Studies, CMR University, Bengaluru
ABSTRACT
International commercial courts are a relatively recent development that have altered the structure of the global adjudication industry. These courts, as newcomers to the dispute resolution scene, contest the idea of competition among the industry's current players. International business tribunals are frequently seen as both allies and rivals from the perspective of arbitration. Additionally, a number of motivating factors contributed to the development of these courts, giving them a hybrid structure and a distinctly distinctive institutional image. The Dubai International Financial Centre Courts (DIFCC), the Singapore International Commercial Court (SICC), and the Netherlands Commercial Court (NCC) are three well-known courts that are located in three separate regions of the world.
The objective is to characterise the key characteristics of these adjudication players, who operate in three very relevant commercial geographic areas, in order to describe their personality and function on the adjudication business stage. Finally, this paper addresses the baffling issue of competition versus cooperation in contrast to arbitration by the use of these examples. However, it is still difficult to provide a definite response because it is too early to make a firm prediction about the future of these projects. To fully assess the effectiveness of international commercial courts, jurisprudence must be produced.
Keywords: International Commercial Courts, International Commercial Arbitration, Judiciary, Enforcement, Adjudication, Competition, Challenges.
