IA Fundamentals | 4. International Arbitration Agreement (I)
摘要
As enterprises are increasingly engaged in international trade and investment, international arbitration is recognized as the preferred option in the face of cross-border disputes. However, international arbitration, which differs from domestic arbitration with complex procedures, often put parties unfamiliar with its rules in an inherent disadvantage. Arbitration agreement is the cornerstone of international commercial arbitration which records the parties’ consent to submit the dispute for arbitration. Such consent is the prerequisite for the smooth progress of arbitration proceeding and the recognition and enforcement of arbitral awards. This article will start with a general introduction to the international commercial arbitration agreements, including the definition and elements of arbitration agreements. Referring to New York Convention and UNCITRAL Model Law on International Commercial Arbitration (“UNCITRAL Model Law”), and taking into account the judicial practice of various countries, this article will introduce the principles for determining the validity of international arbitration agreements.
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