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In most legal systems, the arbitral tribunal is able to rule upon its own jurisdiction (often referred to as the doctrine of "Kompetenz-Kompetenz" in international law). This enables the arbitral tribunal to determine for itself whether: an arbitration agreement is valid, whether the tribunal has been properly constituted under applicable law, and
the tribunal may order the payment of a sum of money (conventional damages) the tribunal may make a "declaration" as to any matter to be determined in the proceedings; in most jurisdictions, the tribunal has the same power as a court to: order a party to do or refrain from doing something ("injunctive relief") to order specific performance of a ...
Arbitration, in the context of the law of the United States, is a form of alternative dispute resolution.Specifically, arbitration is an alternative to litigation through which the parties to a dispute agree to submit their respective evidence and legal arguments to a third party (i.e., the arbitrator) for resolution.
The definition of Arbitral Award given in sec 2(1)(c) is clearly not exhaustive. It merely points out that an Arbitral Award includes both a final award and an interim award. Although arbitration awards are characteristically an award of damages against a party, in many jurisdictions tribunals have a range of remedies that can form a part of ...
Ex aequo et bono (Latin for "according to the right and good" or "from equity and conscience") is a Latin phrase that is used as a legal term of art.In the context of arbitration, it refers to the power of arbitrators to dispense with application of the law, if appropriate, and decide solely on what they consider to be fair and equitable in the case at hand. [1]
International arbitration can refer to arbitration between companies or individuals in different states, usually by including a provision for future disputes in a contract (typically referred to as international commercial arbitration) [1] or between different states qua states (typically referred to as interstate arbitration).
The Paris Arbitral Award is an arbitral award issued on 3 October 1899 by an arbitral tribunal convened in Paris, created two years earlier as established in the Arbitral Treaty of Washington D. C. on 2 February 1897, in which the United States (representing Venezuela) on the one hand and the United Kingdom (as owner of the colony of British Guiana, currently Guyana) on the other, had agreed ...
To be allowed to bring an investor-state dispute before an arbitral tribunal, both the home state of the investor and the state where the investment was made must have agreed to ISDS, the investor from one state must have an investment in a foreign state and the foreign investor must put forward that the state has violated one or more of the ...