Arbitrajul ad-hoc si arbitrajul institutionalizat in Romania. Istoric, prezent si perspective - Ad-Hoc Arbitration and Institutionalized Arbitration in Romania. History, Present and Perspectives (Romanian version)
Ph.D. Candidate Kinga Anetta Trufan ()
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Ph.D. Candidate Kinga Anetta Trufan: “Alexandru Ioan Cuza” University from Iasi,
Anuarul Universitatii „Petre Andrei” din Iasi / Year-Book „Petre Andrei” University from Iasi, Fascicula: Drept, Stiinte Economice, Stiinte Politice / Fascicle: Law, Economic Sciences, Political Sciences, 2010, vol. 1, issue 5, pages 39-48
Arbitration represents a popular method to solve commercial disputes, especially international commercial disputes. The non-judicial nature of arbitration makes it both attractive and effective for several reasons. Many international agreements, treaties, and conventions facilitate the use of arbitration as a method for resolving disputes. There has been a tremendous increase in arbitration options in the last 50 years. Previously, there were a few countries with well- developed arbitration practices and sympathetic national laws. Interference with arbitration by the courts was a well- founded fear in many countries. Conversely, the necessary actions on the part of the national legal system in compelling witnesses and enforcing judgments were not always available. One reason for the growth of arbitration is that there are now many arbitral bodies, and parties can select one that is best suited to their needs. In contrast, there are organizations that specialize in particular types of disputes, such as those involving investments or that focus on a particular topic, such as intellectual property. The object of arbitration is to provide fair and impartial resolution of disputes without causing unnecessary delay or expense and at the same time, it allows freedom to the parties to agree upon the manner in which their disputes should be resolved, subject only to safeguards imposed in public interest. Today arbitration is a very popular mode of alternate dispute resolution in the commercial world and one can find an arbitration clause incorporated in the majority of business contracts. The project deals with two forms of arbitration namely, ad hoc and institutional arbitration and their advantages and disadvantages over each other.
Keywords: arbitration; dispute; impartiality; public interest; business contract (search for similar items in EconPapers)
JEL-codes: A23 K33 (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:lum:rev11d:v:1:y:2010:i:5:p:39-48
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