Arbitration Agreement May Be

[3] The state of the Convention on the Recognition and Enforcement of Foreign Arbitration Awards, UNCLOS homepage, uncitral.un.org/en/texts/arbitration/conventions/foreign_arbitral_awards/status2, last access: 30 June 2020. “Any dispute, controversy or claim related to the creation of a corporation [the name of a corporation as used in the Charter or any other constitutive document] must be indicated, its administration or participation: including disputes between the participants [shareholders, partners, members – the term must be chosen according to the right of a corporation to organize] and the corporation itself, disputes involving persons who are or have been members of the governing and controlling bodies of the corporation, as well as disputes relating to the rights of participants concerning the relations of the legal person with third parties are settled by international commercial arbitration proceedings of the Chamber of Commerce and the Russian Federation of , in accordance with the applicable rules. Third parties who have entered into or establish legal relationships with the corporation (including existing, past or future counterparties of the corporation) may at any time agree to link this arbitration agreement in a contract with the corporation or in any other document sent to the corporation. As explained above, the validity of an international arbitration agreement is governed by the applicable law for the validity of such an agreement at the place of arbitration. The provision for the validity of the arbitration agreement may vary in different places. However, thanks to the New York Convention and the UNCLOS Model Law, which aim to establish a uniform standard, consensus has been reached in practice in the laws of different countries and regions on the separation and presumed validity of arbitration agreements. The third article in the “AI Fundamentals” series discussed the legal framework for international trade arbitrations on the basis of the New York Agreement.

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