Mikal is a Kenyan law student. She enjoys researching the most intriguing bits of the major legal systems in the world.
Arbitration is recognized worldwide as one of the most suitable ways to resolve disputes other than litigation. Due to that, many arbitration institutions have been founded across the globe. The list here describes seven prominent, leading arbitration institutions worldwide.
7. The Chartered Institute of Arbitrators
The Chartered Institute of Arbitrators (CIArb) is a leading professional group of arbitrators worldwide. It champions the interests of arbitrators all over the world. Having presence in 150 countries, it has attracted over 16,000 members. It seeks to solve civil disputes either through arbitration or mediation. Anyone in any profession or academic discipline is eligible to join the institute. However, there are different grades of membership that go along with one's individual skills, knowledge and experience.
The CIArb was founded on 1st March 1915 by HC Emery (Solicitor and Chartered Secretary), who became the first Secretary General of the institute. Its first headquarters were in London. Since then, the institute has worked in the public interest promoting arbitration as the most suitable way to solve civil disputes.
6. The International Center for Settlement of Investment Disputes
This center was established in 1965 to promote the solving of commercial and civil disputes through arbitration, conciliation and mediation. It was founded by the World Bank Group. Its headquarters are located in Washington D.C, USA. By solving disputes through arbitration, the institute encourages international investment.
Through a treaty drafted by the World Bank Group, its membership includes over 163 countries who are to enforce and uphold arbitral awards in accordance with the treaty. It mainly deals with issues on oil, gas, mining, electricity, transportation, construction, finance, trade and tourism industries. The institute has handled more than 390 civil disputes. Its day-to-day operations are carried out by the secretariat, which has 70 employees and is led by the Secretary General. Meg Kinnear has served as the institute's Secretary General since 2009.
5. The American Arbitration Association
The American Arbitration Association was founded in 1926 when the Arbitration Society of America and the Arbitration Foundation merged. Its headquarters are located in New York City. Its main object is to promote resolution of disputes through arbitration and other dispute resolution mechanisms apart from litigation. Apart from New York, it has offices in Miami, Houston and Singapore. Arbitrators are chosen in accordance with the institute's rules, or the parties themselves choose an arbitrator.
4. The Hong Kong International Arbitration Center
This center is based in Hong Kong and is dedicated to providing alternative dispute resolution services to the international community. It was founded in 1985 with assistance from the business community and the government of Hong Kong. However, today the center is independent and operates on its own budget and funds.
It is headed by the Secretary General, who is its chief executive and registrar. It also has an international advisory board to provide guidance and advice on a policy level. The institute maintains one of the largest case loads on arbitration in the entire Asia-Pacific region.
3. The London Court of International Arbitration
The LCIA is the leading global organization for alternative dispute resolution proceedings worldwide, irrespective of the geographical location, legal system and jurisprudence of the parties. It has its own rules and arbitration proceedings which have to be followed by the parties.
It was founded in 1891 as the City of London Chamber of Arbitration after the Court of Common Council of the City of London set up a committee to make proposals for the establishment of a tribunal for arbitration of domestic and transnational commercial disputes within London. In 1981, the institute changed its name to the London Court of International Arbitration to reflect the nature of its work, which was by then predominantly international.
2. The Permanent Court of Arbitration
The Permanent Court of Arbitration is an arbitral intergovernmental organization headquartered at the Hague in Netherlands. Its main aim is to resolve disputes through arbitration between member states, intergovernmental organizations or private parties arising out of international agreements. There were two separate multilateral conventions that helped constitute the institute.
The institute has attracted membership of over 121 countries. The secretariat of the institute is the International Bureau, which is chaired by the Secretary General. The bureau provides administrative support and research services.
1. The International Court of Arbitration
This court is part of the International Chamber of Commerce and is dedicated to resolving international commercial disputes through arbitration. It was founded in 1923 by a Former French Minister of Finance who was its first President, Etienne Clemental. Its headquarters are located in Paris, France. It has attracted over 100 members drawn from around 92 countries. Since being established, it has handled more than 500 cases.
Arbitration Is Valued Worldwide
It is quite evident that arbitration and other alternative dispute resolution mechanisms apart from litigation are here to stay, no matter how metropolitan the world tends to be. This is evidenced by the huge framework of arbitration institutions across the globe.
This content reflects the personal opinions of the author. It is accurate and true to the best of the author’s knowledge and should not be substituted for impartial fact or advice in legal, political, or personal matters.