Introduction to international commercial arbitration

Arbitration has become the dispute settlement mechanism of choice in international business transactions. As a phenomenon quite distinct from litigation in national courts it is characterised by the inherent conceptual conflict between its autonomous and international character, on the one hand, and its dependency on national law to give efficacy to the arbitral procedure and awards, on the other hand.After a brief introduction to the history of arbitration and its regulatory framework, as well as arbitration as mechanism to settle disputes, this lecture focuses on the aforementioned conflict which permeates all stages of the arbitral process. Individual chapters are dedicated to the Arbitration Agreement, the Arbitral Tribunal, Arbitrability, Applicable Law and Recognition and Enforcement of Arbitral Awards. The approach taken is a comparative one, with reference being made to major national laws, international legal instruments and to the practice of international commercial arbitration as evidenced in arbitration rules, court decisions and arbitral awards.This lecture strives to serve as an introduction to the law and practice of international commercial arbitration for students and as a reference guide for practitioners.