International Commercial Arbitration: A Comprehensive Overview

Abstract

International commercial arbitration has emerged as a preferred method for resolving disputes arising in cross-border commercial transactions. This paper provides a comprehensive analysis of the key principles, procedures, and challenges associated with international commercial arbitration. Beginning with an examination of the legal framework governing arbitration agreements and proceedings, the paper explores the role of arbitration institutions, such as the ICC and UNCITRAL, in facilitating and administering international arbitrations. Furthermore, it delves into the intricacies of selecting arbitrators, conducting hearings, and enforcing arbitral awards across different jurisdictions. Additionally, the paper highlights the advantages of arbitration, including confidentiality, neutrality, and flexibility, while also addressing criticisms and areas for improvement within the arbitral process. By offering insights into both theoretical concepts and practical considerations, this paper serves as a valuable resource for practitioners, scholars, and policymakers navigating the complexities of international commercial arbitration.