Question: Discuss the role and importance of international commercial arbitration as an alternative dispute settlement mechanism in the present day world.
Answer: Arbitration can be defined as where parties state their views, offer evidence at an arbitration hearing, and agree to let an impartial, professionally-trained arbitrator make a decision that will end the dispute . In most cases, once the arbitrator hears the evidence, he or she hands down a binding decision. There is, however, also non-binding arbitration where the disputing parties put their case before an impartial third party who renders an opinion or recommendation, which the parties may choose to accept or not.......(short extract)
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Details: - Mark: 64% | Course: International Law | Year: 2nd/3rd | Words: 2648 | References: Yes | Date written: March, 2002 | Date submitted: February 20, 2009 | Coursework ID: 398
