What is the arbitration award??
Sometimes when in international justice, the disputing parties may require to settle their disputes in a peaceful manner, they can agree that they require an international court of arbitration to allow the arbitrator on the dispute to deal with the doubt as to why arbitration was chosen instead of a court decision. What is the arbitration award? Interesting examples of arbitration awards can be read and understood in this article.
What Arbitration Court is:
Arbitration Court is an independent international organization created to promote the resolution of disputes involving states, government, international organizations and private parties. By supporting the establishment of arbitral tribunals and promoting their work. It was established to settle alternative disputes outside the court and the verdicts binding the parties. Although it is called a “court”, it is not actually a judicial body. It was established with only the power to enforce regulations regarding of the arbitration process. The well-known arbitrations courts are as follows:
Permanent Court of Arbitration: PCA
Court of Arbitration for Sport: CAS
ICC International Court of Arbitration
Why choose arbitration instead of a court?
Choosing a dispute resolution by arbitration court instead of an international court is suitable for international disputes due to differences in law, language, culture, beliefs, and religion. Parties may be concerned about injustice if they choose a particular national court. Therefore, the arbitration with the expertise and understanding of that matter is best and appointed as the arbitrator of each side and selected the Chairman of Arbitration to consider the dispute based on international law. In addition, the reason why the parties tend to choose arbitration is that the process is quicker than the court. Moreover, the award is widely accepted and praised, and the selection of arbitration court to settle disputes is not require to disclose the information to the public along with a more flexible and easy-to-understand process, it is often the preferred choice for the parties.
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As mentioned above, in cases where civil dispute parties can agree that the arbitration will settle the dispute. Usually, the parties are required to appoint the arbitrator to be the mediator in the resolution of the dispute. In some cases, it is possible if the parties are to appoint the arbitration to more than one person. The parties must first select the same number of arbitrators, for example, two parties appointing one arbitrator each, and then the appointed arbitrator must jointly appoint an additional chairperson of the arbitration tribunal.
The prospective arbitrator’s qualifications must be independent, unrelated to both disputants, having expertise in the disputes, and are impartial. The arbitrator must give clear reasons for the award. The outcome of the award will depend on the majority of the award. The process of the award may or may not be made public, as the case may be. The same applies to reading the award at the meeting and notifying the representatives of both parties in accordance with the records of each institution. The parties must accept the decision and are bound to comply with the award and the dispute has been resolved. However, an arbitral award will not affect the unrelated parties.
Nonetheless, the award can be reviewed again if the disputing party finds new facts that affect the award consideration and is unrecognized by the court and the party seeking to review the decision. In addition, an award of an International Court of Justice cannot be revoked by a domestic court. It is not like ordinary arbitration awards that courts can determine that they are against good moral principles. (Read more, click here) In one example, in an award of the Court of Arbitration for Sport (CAS), on 17 December 2020, the World Court of Arbitration for Sport Lausanne, Switzerland, reduced the penalty of Russian athletes for participating in international sporting events to just two years. Charged with violation of doping in sports It reduced the penalty from Wada’s 2018 ruling because Russia deliberately concealed data from athletes’ banned substance testing labs, leading to an investigation a year later with a four-year ban. As a result of the charges, Russia must finally appeal to the World Sports Court. (Read more, click here)
Arbitration is the choice of international organizations seeking to resolve disputes due to their fairness and ease of action. In addition to the arbitration award for the use of stimulants in Russian athletes, there are also arbitration awards widely used. If interested in arbitration services, please contact THAC via email@example.com or +66 (0) 2018 1615.
Thailand Arbitration Center or THAC has been an international arbitration to conciliate for every party since 2015. We aim to support and promote the international arbitration system and provide independent arbitration services with international standards. Due to our experience and professional expertise, we can ensure that all service users will receive the correct and fast service. Moreover, THAC is centrally located, which is comfortable to travel, and offers lower rates to help users save time and money as much as possible.