 International
Commercial Arbitration Agreements
HOW TO DRAFT ARBITRATION
AGREEMENTS
MODEL ARBITRATION AGREEMENT
INTERNATIONAL ARBITRATORS AND LAWYERS
........
(Article)
A good arbitration
agreement is one which minimizes complications when a dispute
arise. However, many a times people neglect to pay attention
while drafting an arbitration agreement.
Before
finalizing an arbitration agreement, the terms
should be thoroughly discussed and negotiated to
avoid any misunderstanding at a later stage. Arbitration lawyers from all applicable jurisdictions must be
consulted before finalizing any arbitration agreement..
|
A bad
Arbitration Agreement could result in double jeopardy: arbitration as well as
litigation arising out of arbitration. Therefore, care should be taken to
draft an enforceable arbitration agreement. Lawyers from all applicable
jurisdictions should review the arbitration agreement before its executed
_____****_____ |
Before
signing an Arbitration Agreement
the following must be properly addressed:
Applicable
law to arbitration
Location of
Arbitration
Number of
Arbitrators
Language of
Arbitration
Discovery procedure
Limitation to
arbitration powers
Interim
measures/Provisional Remedies
Privacy
Rules Applicable
Appeal &
Enforcement
Be aware of local
peculiarities
[For example, the Vermont
Arbitration Act contains a significant "trap door" through
which parties may fall if they are not careful. It provides
that an agreement to arbitrate is not enforceable, unless
the parties sign a separate "Acknowledgement of Arbitration"
which contains language prescribed in the statute. See 12
Vt. Stat. Ann. § 5652 (Supp. 1996). Also, the Vermont
Arbitration Act may not apply, even if the parties attempt
to select it. The Vermont Act states that it applies to all
arbitration agreements, "to the extent not inconsistent with
the laws of the United States." 12 Vt. Stat. Ann. § 5653(a)
(Supp. 1996). Even if parties intend to select the Vermont
Act, it may not apply if the arbitration agreement is in
interstate commerce and governed instead by the federal
arbitration act. Threlkeld & Co. v. Metallgesellschaft, 923
F.2d 245 (2d Cir. 1991), cert. den'd 112 U.S. 17 (1991)]
Survival after Termination
of the main agreement.
The arbitration agreement should be
modified as applicable under different circumstances. One brush
should not paint all the painting.
"All and any disputes arising out of or in connection with the
present agreement shall be finally settled under the
________________ (arbitration rules of your
choice) by sole (or three) arbitrator (s) appointed by _________
(an arbitration institute of your choice) in accordance with the
said Rules. The place of arbitration shall be _____. The
arbitration shall be conducted in ______ language. The
arbitration award shall be final and binding. The arbitration
shall be governed under the laws of ______. "
|
Our arbitration lawyers and arbitrators include those who have
undertaken arbitration in the USA, Europe, and Asia. They have
undertaken arbitration in the USA, India and Europe. They understand the multi-cultural and the multi-jurisdictional
aspects of international business in this age of globalization.
They those educated at Harvard Law School,
Harvard University in the USA.
They believe in high moral and legal ethics.
We assist our clients with resolution of
disputes in all areas of general and special practices, including
commerce, finance and industry. Our highly trained & experienced attorneys
endeavor to prevent disputes by ensuring proper documentation and by
tactfully handling the matter. However, in cases where disputes cannot be
prevented, we take utmost care in preparation of our client's case and
ensure that the client gets the best advice and support in resolving their
disputes. Our attorneys are highly experience and has dealt with hundreds
of arbitrations & conciliation, including:
- Preparing and presenting the case
before arbitrator
- Domestic and International Arbitration
- International Chamber of Commerce,
Paris Arbitration (ICC)
- American Arbitration Association (AAA)
- Enforcement of Awards
|
|
Contact Information:
Madaan
& Co.
Attorneys at law
E-mail:
click
here
Fax: +1 (216) 928-9537
(a US
area code)
WWW.MADAAN.COM |
|
|
