International arbitration is governed by both the parties’ private agreement but also by a number of international arbitration conventions that apply independently of the parties’ agreements. Those conventions and treaties’ main goal is to promote international arbitration and help to enforce arbitration awards, such as the 1923 Geneva Protocol and the 1927 Geneva Convention. These […]
Valeri Belokon v. Kyrgyz Republic – Money Laundering in Investment Arbitration
On 14 October 2014, an UNCITRAL arbitral tribunal in the case Valeri Belokon v. Kyrgyz Republic, whose composition included Kaj Hober, Niels Schiersing and Jan Paulsson as President, found Kyrgyzstan liable for the unlawful expropriation of Claimant’s investment. The investment claim had been brought in 2011 by Valeri Belokon, a Latvian investor, against the Kyrgyz […]
Perks of International Arbitration Agreements
International arbitration has become increasingly popular because of a number of perks of international arbitration agreements that cannot be found before national or local courts. Although imperfect, this dispute resolution system aims to cure some of the shortcomings of national court systems. The first perk of international arbitration dispute resolution system is its neutrality. The […]
2017 ICC Arbitration Rules
The 2017 ICC Arbitration Rules, applicable as of 1 March 2017, govern ICC arbitrations along with the mandatory rules of the seat of arbitration. The parties agree to apply the ICC Rules of Arbitration by referring to them in the arbitration clause enclosed in their contract or by mutual agreement after a dispute has arisen. The ICC […]
Validity of Appellate Arbitration Clauses
The validity of appellate arbitration clauses has been upheld in India. In some arbitration clauses, parties may elect to resort to appellate arbitration clauses that provide for an appellate mechanism with respect to an award in order to correct errors. While prolonging the duration of arbitration, these clauses are sometimes desired as arbitral awards cannot […]