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The “third parties” in arbitration: The view from practical application of arbitration law
10/29/2024According to the Department of Judicial Support , Ministry of Justice, currently , there have been 48 arbitration institutions established in our country, with over 600 arbitrators participating in resolving thousands of commercial disputes each year 1 . An arbitration service has been developed. Along with the growth , the trait of this service became more apparent , includi ng the relevance of third-party interests. Unlike court litigation, in principle, arbitration is a private dispute resolution method , therefore, the involvement of third parties is exceptional. The discourse discusses how the arbitral tribunal considers and guarantee s the third party's interest in the arbitra l proceedings by providing some situations in which disputing parties or the arbitral tribunal may need to consider the interests of third parties. The goal of arbitr ation is to make contributions to resolving disputes fairly, thereby encourag ing parties to fulfill their obligations voluntarily in order to avoid further dispute escalation of disputes . Based on the analysis , the author suggests policy improvements pertaining to third parties that may be considered in the upcoming revision of the Law on Commercial Arbitration.
Practices of the procedures for mediation in arbitral proceedings: Potential conflicts and recommendations for the tribunal’s directions
10/29/2024During arbitral proceedings, the mediation process may cause some certain conflicts that requests the Arbitral Tribunal to seriously consider. Resolving effectively these conflicts based on fundamental legal principles and the arbitration skills of the Tribunal will ensure the rights and interests of disputing parties and third parties. This discourse focuses on analyzing potential conflicts and providing recommendations to the Tribunal to maximize the effectiveness of the mediation process and reduce conflict occurrence.
The cancellation of arbitral awards and issues related to “third-party” factors
10/29/2024Besides many advantages, arbitration also reveals certain limitations, including the Arbitral Tribunal's limited jurisdiction over third parties. The question arises as to the need for accurately identifying cases of Arbitral Awards related to third parties and the possibility of the Court annulling these awards due to third parties, thereby, drawing lessons to minimize the risk of setting aside Arbitral Awards. Moreover, there is also a need for solutions to improve the mechanism for challenging Arbitral Awards which currently retain many shortcomings.
Advantages of commercial arbitration
10/30/2019Derive from arbitration’s dispute settlement principles, arbitration shows many pros and brings many benefits for parties in commercial dispute, specifically as follows:
What is commercial arbitration?
10/30/2019Arbitration, and typically commercial arbitration, is an Alternative Dispute Resolution (ADR) which is agreed by parties of the dispute. Arbitration can be used to replace the traditional way of litigation in court.
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