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ICC International Court of Arbitration is an institution for the resolution of international commercial disputes. It operates under the auspices of the International Chamber of Commerce and consists of more than 100 arbitrators from roughly 90 countries. [1] The ICC does not issue formal judgements.
The International Chamber of Commerce was founded in 1919 to serve world business by promoting trade and investment, open markets for goods and services, and the free flow of capital. Its international secretariat was established in Paris and its International Court of Arbitration in 1923.
International arbitration is an alternative to local court procedures. International arbitration has different rules than domestic arbitration, [6] and has its own non-country-specific standards of ethical conduct. [7] The process may be more limited than typical litigation and forms a hybrid between the common law and civil law legal systems. [8]
In 1953, the International Chamber of Commerce (ICC) produced the first draft Convention on the Recognition and Enforcement of International Arbitral Awards to the United Nations Economic and Social Council. With slight modifications, the council submitted the convention to the International Conference in the Spring of 1958.
The centre provides administrative and technical support for a number of international dispute resolution proceedings through alternative facilities such as the Permanent Court of Arbitration in The Hague, Netherlands, the London Court of International Arbitration, and the International Chamber of Commerce in Paris, France. [22]
The London Court of International Arbitration. An arbitral tribunal or arbitration tribunal, also arbitration commission, arbitration committee or arbitration council is a panel of adjudicators which is convened and sits to resolve a dispute by way of arbitration.
The Center on International Commercial Arbitration at the American University's Washington College of Law (WCL) was founded in 2004, and provides academic training and a discussion forum for issues and developments in commercial arbitration.
Singapore International Arbitration Centre (SIAC) is a not-for-profit international arbitration organisation based in Singapore, which administers arbitrations under its own rules of arbitration and the UNCITRAL Arbitration Rules. It was established on 1 July 1991 and is located at Maxwell Chambers, formerly the Customs House. [1]