Scrutiny of Arbitral Awards by Arbitration Institutions in International Arbitration: Focusing on the ICC’s Scrutiny of Award Process
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International arbitration has been increasingly successful in providing not only an alternate but also an appropriate and relevant dispute resolution mechanism for parties in different parts of the world so that they would not have to appear before foreign national courts. The objective of all arbitration proceedings is a final and enforceable award by a competent and independent arbitral tribunal. Arbitration rules of certain well-renowned international arbitration institutions, namely the ICC, mandate that arbitral tribunals submit drafts of their awards to the respective institution for institutional scrutiny of arbitral awards before the final award is signed by the tribunal and issued to the parties. While not all the arbitration rules set forth award scrutiny provisions, it is unclear whether such silence in the rules necessarily indicates no scrutiny is done by the institution. This paper examines the ICC draft award scrutiny process in order to determine the pros and cons of the process and raises some issues to be considered for other institutions that may be interested in adopting award scrutiny process as well.
Abstract
International arbitration has been increasingly successful in providing not only an alternate but also an appropriate and relevant dispute resolution mechanism for parties in different parts of the world so that they would not have to appear before foreign national courts. The objective of all arbitration proceedings is a final and enforceable award by a competent and independent arbitral tribunal. Arbitration rules of certain well-renowned international arbitration institutions, namely the ICC, mandate that arbitral tribunals submit drafts of their awards to the respective institution for institutional scrutiny of arbitral awards before the final award is signed by the tribunal and issued to the parties. While not all the arbitration rules set forth award scrutiny provisions, it is unclear whether such silence in the rules necessarily indicates no scrutiny is done by the institution. This paper examines the ICC draft award scrutiny process in order to determine the pros and cons of the process and raises some issues to be considered for other institutions that may be interested in adopting award scrutiny process as well.
참고문헌 (7)
- Redfern, Alan, "Redfern and Hunter on International Arbitration" (2009), Oxford University Press
- Gustav Flecke-Giammarco, "The ICC Scrutiny Process and Enhanced Enforceability of Arbitral Awards", 중재연구, 24(3), pp.47~77 (2014), 한국중재학회[DOI]
- The International Chamber of Commerce, "Arbitration Rules", ~ (2017)
- "The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards", ~ (1958)
- Greenberg, S., "International Commercial Arbitration:An Asia-Pacific Perspective" (2011), Cambridge University Press
- "2010 International Arbitration Survey: Choices in International Arbitration, by the School of International Arbitration at Queen Mary University of London", ~ (2010)
- "2015 International Arbitration Survey: Improvements and Innovations in International Arbitration by the School of International Arbitration at Queen Mary University of London", ~ (2015)