​Procedural Concerns in International Commercial Arbitration

Procedural Concerns in International Commercial Arbitration
 
Arbitration is a popular technique for resolving disputes in international business agreements. The arbitration procedure is usually governed by the legislation of the arbitration venue, the arbitration rules, and the parties' agreement. The procedure normally follows the timetable determined during the preliminary arbitration session.
 
 
The start of the arbitration process is crucial, and lawyers should be informed of the precise requirements outlined in the relevant arbitration rules. For example, the procedure starts when the arbitrator receives the applicant's formal notice of arbitration from the International Chamber of Commerce or the London International Arbitration Court. The procedure, however, starts when the respondent gets the notice of arbitration, according to the UNICTRAL Arbitration Rules.
 
According to the arbitration rules, the parties must pay or prepaid the relevant fees upon commencing the arbitration procedure. The applicant, the party beginning the procedure, must send an arbitration notification to the arbitration institution or the opposing party. The arbitration application, which normally contains the following information, must be included in the notice:
 
A declaration of intent to take the matter to arbitration
Both parties' contact information, such as name (or business name), address, phone number, fax number, and email address
The arbitration agreement or arbitration clause that serves as the foundation for the application
The contract and any other papers relevant to the issue
A concise description of the remedy sought (including the amount of the claim) and the pertinent facts
A clear statement of the remedies sought, such as an injunction or other remedy
The notification may include suggestions for arbitrator selection, arbitration venue selection, and wording.
 
As the arbitration rules require, the attorney must submit sufficient copies of the notice and application and ensure they are appropriately delivered to the necessary parties.
 
After the responder gets the notice, the attorney has a certain amount of time to file a written response, which often includes an answer to the notice of arbitration and may address issues such as jurisdiction, agreement, or rejection of the remedy requested. The answer must adhere to the appropriate arbitration rules.
 
The attorney must follow the counterclaim guidelines if the respondent has a counterclaim. The counterclaim answer must likewise adhere to the appropriate arbitration rules.
 
If the attorney has to edit or update the arbitration claim, counterclaim, or any other legal papers, they must do so within a reasonable time limit. Otherwise, the arbitration tribunal may refuse to accept the modification.
 
Suppose a third party is involved in the dispute. In that case, the attorney must establish an arbitration agreement between the third party and the disputing parties before including them in the arbitration process. Otherwise, any award made by the tribunal may be set aside.
 
Even if the parties do not seek it, the tribunal may combine numerous arbitration procedures in certain situations.
 
Lastly, the relevant legislation or arbitration rules determine whether a party can receive third-party money for international arbitration. Before accepting third-party money for an international arbitration case, the attorney should research and analyze applicable rules. If a party accepts third-party money, they must follow the appropriate arbitration rules or the parties' agreement on disclosing such sponsorship.
 
To summarize, the arbitration procedure in international business transactions may be difficult, and lawyers must strictly adhere to the appropriate laws and arbitration rules to defend their clients' rights.