Introduction

International commercial arbitration is currently the preferred method of resolution of disputes originating from international business transactions, and it represents a full-fledged alternative to dispute resolution before national courts. With the growing volume of international trade, the international commercial arbitration has become an increasingly utilized instrument. It is not only the number, but also the diversity and complexity of disputes that have been growing. Except of arbitration and litigation the alternative dispute resolution (e.g. mediation) may be used to solve disputes arising out of international business transactions.

The aim of this chapter is to deal with the characteristic features of arbitration, kinds of arbitration, advantages and disadvantages of international commercial arbitration and the basic notions of arbitration. After going through this chapter a student should be able: to define international commercial arbitration; to explain advantages and disadvantages of international commercial arbitration in comparison to litigation; to define arbitration agreement and its kinds; to explain the difference between seat and venue of arbitration; to define lex arbitri.

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Introduction to International Commercial Arbitration
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Introduction to International Commercial Arbitration
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Further recommended sources – books

• blackaby, n., partasides, c., redfern, a., hunter, m. Redfern and Hunter on International Arbitration. 6th ed. Oxford: Oxford University Press, 2015, Chapter 1.
• born, g. b. International Commercial Arbitration. 2nd ed. Kluwer Law International, 2014, Chapter 1.
• gaillard, e. Legal Theory of International Arbitration. Leiden: Martinus Nijhoff Publishers, 2010.
• gaillard, e., Savage, J. Fouchard Gaillard Goldman on International Commercial Arbitration. Kluwer Law international, 1999, Chapter 1.
• Gerbay, R. The Functions of Arbitral Institutions. Kluwer Law International, 2016.
• Lew, J.D.M., Mistelis, L. A., Kröll, S.M. Comparative International Commercial Arbitration. The Hague: Kluwer Law International, 2003, Chapters 1, 3, 4, 5.
• Moses, M.L. The Principles and Practice of International Commercial Arbitration. 3rd ed. Cambridge: Cambridge University Press, 2017. Chapter 1.

Further recommended sources – Articles, papers

• Brekoulakis, S. Introduction: The Evolution and Future of International Arbitration. In: Brekoulakis, S., LEW, J.D.M., MISTELIS, L. (eds.) The Evoution and Future of International Arbitration. Alphen aan den Rijn: Kluwer Law International, 2016, pp. 1–20.
• Goode, R. The Role of the Lex Loci Arbitri in International Commercial Arbitration. Arbitration International. 2001, vol. 17, no. 1, pp. 19–40.
• Lew, J. D. M. Achieving the Dream: Autonomous Arbitration. Arbitration International. 2006, vol. 22, no. 2, pp. 179–204.