Evolution of International Arbitration: From Theory to Practical Application

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Last Update 2024-Dec-21

Evolution of International Arbitration: From Theory to Practical Application

Introduction:

International arbitration is considered an essential complement to the global judicial system, where this type of arbitration is deemed an effective means of resolving disputes between states and cross-border companies. The need for international arbitration arises from the complexities associated with the diversity of legal systems and cultures worldwide, making it necessary to resort to a unified and independent legal framework that enables the settlement of disputes in a fair and effective manner.

This section entails an overview of the history and evolution of the concept of international arbitration, starting from its ancient roots in old commercial practices to its modern development as a means of settling international disputes.

International arbitration is considered an essential complement to the global judicial system, where this type of arbitration is deemed an effective means of resolving disputes between states and cross-border companies. The need for international arbitration arises from the complexities associated with the diversity of legal systems and cultures worldwide, making it necessary to resort to a unified and independent legal framework that enables the settlement of disputes in a fair and effective manner.

2. Legal Frameworks

Here, the legal frameworks governing international arbitration are discussed, such as the 1958 New York Convention and other relevant international agreements and conventions.

3. Success Factors

This part focuses on the factors contributing to the success of international arbitration proceedings, such as the independence of experts, procedural confidentiality, and the effectiveness of decision enforcement.

4. Challenges and Innovations

Light is shed here on the challenges facing international arbitration in the current era, such as digital technologies and the increasing complexities in international disputes.

Conclusion:

A comprehensive view of international arbitration reveals that it is not merely a theoretical concept but rather a practical reality where efforts abound for its continuous improvement and development. Through achieving justice and objectivity in settling international disputes, international arbitration can significantly contribute to enhancing international peace and stability and bolstering trust in the global justice system.