Institutional Arbitration

posted in: News

According to the third paragraph of article 3 of the General Law of Arbitration unless the parts have agreed specifically that the arbitration will be of right, the arbitration will be understood of brings back to consciousness. According to article 25 of the Law the appointment of right referees must fall to Lawyers. In agreement one is right arbitration or arbitration of brings back to consciousness, we can speak of right award and award of brings back to consciousness. According to article 50 of the General Law of Arbitration the right award must contain: 1) place and date of expedition, 2) name of the parts and of referees, 3) the question submissive arbitration and a summary reference of the allegations and conclusions of the parts, 4) valuation of the tests in that the decision is sustained, 5) Foundations completely to admit or to reject the respective pretensions and defenses, 6) the decision. According to article 51 of the General Law of Arbitration the award of brings back to consciousness necessarily must fulfill the arranged thing in interjections 1, 2, 3 and 6 of article 50 of the Law in mention and requires besides a reasoned motivation. According to the final part of article 60 against the awards of it brings back to consciousness does not come resource from appeal. It is necessary to need that the parts can agree that an arbitration is of right or fairness.

Ad hoc arbitration and Institutional Arbitration. The ad hoc arbitration is when it is agreed to that the arbitration will be carried out by a person or people especially and institutional arbitration is when is agreed to that it is carried out by a by arbitration institution. It is necessary to need that the parts can agree that an arbitration is ad hoc or that is institutional. Arbitration volunteer and unavoidable arbitration. .

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