International arbitration is a transnational dispute typically involving disputesbetween parties from different nations often performing work in yet another nation. A UKcontractor constructing a ore processing facility in a sub-Saharan African nation on behalf of aCanadian minerals company, files a claim for UK£1.45 million and seeks arbitration when theproject owner refuses to settle is a an example of an international arbitration. As the world’seconomy has become more globalized, more corporations are working internationally. Over thepast two to three decades disputes on construction projects have become larger, morecomplicated and more common. A literature survey indicates that arbitration is the preferreddispute resolution mechanism for international corporations rather than transnationallitigation. As the number of arbitration case filings has increased so has the number of arbitralinstitutions (which now number at least 28) and the seats of arbitration. Perhaps in reaction togrowing criticism of the process, there has been and continues to be other changes concerninginternational arbitration.
展开▼
