International Commercial Arbitration

For the legal profession throughout much of the world, one of the most important effects of a "globalized economy" has been the startling growth of international arbitration, as the preferred alternative to national courts, for the resolution of business and commercial disputes arising out of "cross-border transactions" and international investments.

In recent years, the leading international arbitral institutions have seen their caseloads grow dramatically. For example, in 2021, the Secretariat of the International Court of Arbitration of the International Chamber of Commerce (“ICC”), headquartered in Paris, registered 853 new cases in total, comprising 840 cases filed under the ICC Arbitration Rules and 13 under the Rules of ICC as Appointing Authority. In 2020, the London Court of International Arbitration ("LCIA") saw a 10% increase in the total number of referrals and an 18% increase in the number of LCIA arbitrations, compared with 2019. Similar growth has been experienced in Asia at leading arbitral institutions in Singapore, Hong Kong, and China as well as in North America at the International Centre for the Settlement of Investment Disputes ("ICSID") at the World Bank in Washington, DC and the American Arbitration Association's International Center for Dispute Resolution ("ICDR") in New York City.

Significantly, according to the 2021 Queen Mary and White & Case International Arbitration Survey, for 90% of respondents, international arbitration, rather than transnational litigation in "national" or "state" courts, is the preferred method of resolving cross-border disputes, either on a stand-alone basis (31%) or in conjunction with ADR (59%). In response to the growth of international arbitration, law firms in almost all the important commercial centers around the world have formed and grown "International Arbitration" groups or departments to deal with complex multi-jurisdictional disputes which frequently involve major commercial transactions and global infrastructure projects.

In light of the increasing prominence of arbitration in the growing global economy, it is highly useful, if not essential, for all lawyers involved in international commerce to develop a basis or "working" understanding of the international commercial arbitration process and the legal framework on which it is built and functions.

With this goal in mind, this course will include:

• Examination of "arbitration" versus other methods of dispute resolution.
• A brief history of "arbitration"
• A careful examination of the "law" governing international arbitrations including the parties' arbitration agreement and applicable procedural rules, national statutes, and international treaties.
• A "workshop" on drafting arbitration agreements for international transactions.
• An introduction to and overview of leading international arbitral institutions (ICC, LCIA, ICSID, and the leading Asian arbitration institutions.)
• A step-by-step examination of the major "focal points" in a typical arbitration proceeding including initiation of the arbitration, appointment of arbitrators, written proceedings, presentation of evidence, hearings, and the arbitral "Award".
• Enforcement of the Award/Defenses to the Enforcement of Awards.
• Examination of Investor/State Arbitrations (an important, growing, and specialized category of international arbitrations against States under international investment agreements such as bilateral investment treaties (“BITs))