Relation between arbitration and international laws
Members of the society are bonded by law together in adherence to recognised values and standards. Law comprises a series of rules and regulations regulating behaviour and reflects the notions and preoccupations of the society within which it functions and exists.
International law is where the principal subjects to the laws are nation-states and not individual citizens. The Law of nations is again divided into laws, namely private international law and public international law, usually termed international law. The former deals with those cases within particular legal systems, during which foreign element questions on the application of foreign law or include the role of foreign courts.
Public international law- Public law of nations covers relations between states altogether in their numerous forms, from war to satellites, and regulates the operations of the many international institutions.
International law aims for peace as well as the regulation and settlement of disputes. It attempts to make a framework, regardless of how rudimentary, which may act as a sort of shock- absorber clarifying and moderating claims and endeavouring to balance interests. Additionally, it sets out a series of principles declaring how states should behave. The international practice has long included an Alternative Dispute Resolution mechanism to settle disputes between national states and individuals. Options like arbitration, mediation and conciliation as informal methods for settlement of disputes.
In the context of international law, a dispute is defined as “a disagreement on the purpose of law or fact, a conflict of legal views or interests between two persons. And such disputes are generally resolved in the light of international laws in arbitration.
An international dispute is one:
- which is between states.
- Which is haunted by the government of the state of injured national.
- Which causes some action by the aggrieved state.
- Which related to a reasonably well-defined material.
Advantages and drawbacks of arbitration as a way of settling international disputes
Freedom to settle on a Neutral and Competent Decision maker- One of the top valued features of international arbitration is the parties’ ability to decide on their arbitrator constitution and thereby ensuring that their dispute is heard by a tribunal that they trust, that they concede to be independent, impartial and competent within the relevant subject matter which they know has the specified availability. A high level of technical competence is required. The parties will select arbitrators that are known to possess such competence.
Several features of international arbitration favour speedy proceedings. First and foremost, unlike court decisions, arbitral awards are final and not subject to appeal. International arbitration, in essence, ends with a final award.
This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, or Religion, Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being. Further, despite all efforts made to ensure the accuracy and correctness of the information published, White Code VIA Mediation and Arbitration Centre Foundation shall not be responsible for any errors caused due to human error or otherwise.