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nullLesson 23 Enforcement of Arbitration Agreements and Awards Lesson 23 Enforcement of Arbitration Agreements and Awards Text OrganizationText OrganizationPart2(3): The historical development of statutes on arbitration. Part3(4-5):The advantages and disadvantages of arbitration.Part4(6): The process of selecting arbitrator.Part5(7): The different kinds of challenges to the arbitration process.Part6(8-11): The enforcement of arbitration agreements and awards.Part1(1-2): The definition of arbitration and commercial Arbitration.Part1(1-2)Part1(1-2)Arbitration: is a legal technique for resolving disputes by referring them to Commercial arbitration: is a means of settling disputes by referring them to a third person, an arbitrator, selected by the parties fora third party for a binding decision, or “award” . a decision based on the evidence and arguments presented to the arbitration tribunal. Part2(3)Part2(3)Commercial arbitration was used in resolving controversies between medieval merchants: nullMaking the arbitration agreement no longer revocable, as it had been ender common law. It also provides for the substitution of arbitrators in the event of a party failing to select a voluntary arbitration agreements. Part3(4-5)Part3(4-5)Advantages1. The speed with which controversies can be resolved by arbitration, compared with the long delays of ordinary court procedure. 2. The expert knowledge of arbitrators in the customs and usages of a specific trade makes testimony by others and much documentation unnecessary, thereby eliminating expenses connected with court procedures. 3. The privacy of the arbitration procedure is also much valued by parties to the controversy. Part3(4-5)Part3(4-5)Disadvantages1.This uncertainty resulting from lack of a reasoned precedents, moreover, makes the arbitral decision less predictable. 2. Further obstacles to the wider use of commercial arbitration are the divergence in municipal laws and court decisions that result in different interpretations of similar arbitration questions and the fact that awards are not published: publication of awards, even without identification of the parties.Part4(6)Part4(6)The arbitrator’s ability and fairness is the decisive element in any arbitration. Both parties to select an arbitrator: at the time a conflict arise or at the time the arbitration agreement is concluded. The two arbitrators select a chairman, forming a tribunal. Selection of arbitrators is also often made by agencies administering commercial arbitration under pre-established rules of procedure.thenThese organizations maintain panels of expert arbitrators. The parties may either make their own selection or entrust the appointment of the arbitrators to the organization.Part5(7)Part5(7)In some cases, the issue of whether the arbitration has authority to deal with the conflict is usually determined by a court. Further challenges to the arbitration process may be directed against an arbitrator.Challenges to the arbitration processPart6(8-11)Part6(8-11)Para 8: The arbitration process is governed by the rules to which the parties referred in their agreement; otherwise, the procedure will be determined by the arbitrators. The arbitrator generally has the authority to request the parties and third persons to produce documents and books and to enforce such a request by issuing subpoenas. Part6(8-11)Part6(8-11)Para9: Under the law and arbitration practice of most countries, the award is valid and binding upon the parties when rendered by a majority of the arbitrators, unless the parties expressly request a unanimous decision of the arbitrators, which we seldom do.Part6(8-11)Part6(8-11)Para10: The law applied by the arbitrators. Generally, the award must be based on the law as determined by the parties in their agreement. This failing, the arbitrators must apply the law he considers proper in accordance with the rules of conflict of laws. Part6(8-11)Part6(8-11)Para10: If, during any arbitration proceeding, a compromise is reached by the parties, that compromise may be recorded as an award by the arbitrator. Part6(8-11)Part6(8-11)Para11: Appeals to the courts from the award cannot be excluded by agreement of the parties, since the fairness of the arbitration process as a quasi-judicial procedure has to be maintained. An arbitration award has the authority of a court decision and may be enforced by summary court action according to the procedural law of the country in which execution is being sought. Thank You!Thank You!