Page 34 - Special Issue Modern Trends in Scientific Research and Development, Case of Asia

International Journal of Trend in Scientific Research and Development (IJTSRD)
Special Issue on Modern Trends in Scientific Research and Development, Case of Asia
Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470

International Commercial Arbitration

Boratova Ziyoda Sobir Kizi
Student, Tashkent State University of Law, Tashkent, Uzbekistan

ABSTRACT territorial selection for this study is not random. The main
This article is devoted to the complex analysis of the English reason for this is that the United Kingdom is today a country
legislation of the international commercial arbitration. The whose arbitration centres are known all over the world. It is
author analyzed the commercial disputes and the bodies a State whose courts have been involved in both national and
that proceed these disputes in England as well as main international disputes for many years.
statutes regulating the international commercial
arbitrations of England. The international commercial Therefore, the study of the activities of international
practices of the London International Court of Arbitration commercial tribunals in the United Kingdom in the
are described. Moreover, the author represents the main examination and resolution of trade disputes and the
conclusions formed on the basis of the provisions of the compilation of their practices is becoming increasingly
national legislation on commercial arbitration and the relevant.
regulations of the most well-known international
arbitrations in England. This paper will deal with the manner in which commercial

disputes are heard and resolved in England and Wales, since

KEYWORDS: International commercial arbitration, English law is limited to England and Wales, and although
commercial disputes, arbitration institution, the London Scotland and Northern Ireland are part of the United
International Court of Arbitration (LCIA) , the LCIA Rules, Kingdom, each of them has separate jurisdictions.
Arbitration Act 1996
Main part
INTRODUCTION The term «arbitration» in English is explained as «A non-
The development of international business has often been
court alternative method of resolving disputes, where an
accompanied by disagreements among the participants in arbitrator or panel of arbitrators is appointed by the parties
the trade and monetary relations. This contributes to the to make a binding decision, from which there are very
recognition of international commercial arbitration as the limited grounds of challenge» [11]. English researchers most
most effective means of resolving such legal disputes. often define arbitration by its distinctive characteristics.
International commercial arbitration shall settle foreign Arbitration for commercial disputes is referred to in the
economic disputes arising between entities of foreign literature as "commercial arbitration". In England, most
economic activity whose enterprises are registered in the researchers note the lack of a clear definition of «arbitration»
territories of different States and has become, particularly in in both legislation and practice.
the context of globalization, an integral part of the
international business infrastructure. The attractiveness of The widespread use of alternative (ADR) commercial dispute
international commercial arbitration to companies and
resolution in England does not diminish the role of
entrepreneurs of different countries, including foreign international commercial arbitration. The various ways of
investors, is related to its political neutrality, the freedom of settling commercial disputes and the active introduction of
parties to choose arbitrators, Greater confidentiality and alternative dispute resolution methods not only do not
effectiveness of the dispute settlement procedure, as well as diminish the role of commercial arbitration in England, but
acceptance of the results of the procedure by the vast also increase the substantive and procedural aspects and
majority of States. legal aspects of its effectiveness in dealing with individual

commercial disputes by improving the choice of the
The Model Law of The United Nations Commission on procedure for resolving such disputes and reducing the
International Trade Law (UNCITRAL)the international overall burden on international commercial arbitration.
character and balance of most of the formulations of which
embody the essential principles of the arbitration of
The English legal system has traditionally been geared
international commercial disputes and determine the legal towards giving full support to the arbitration proceedings by
mechanism for regulating them. A review of the laws and State courts. While, of course, it is possible here to challenge
regulations of the standing international arbitration centres a decision of international arbitration in serious violation of
of some countries reveals the undeniable merits of the rights of one of the parties, such cases are not known
international commercial arbitration versus business recently, because it is unlikely that London-based arbitrators
disputes The Court of International Jurisdiction of a State. would allow one of the parties to be offended in the
These advantages apply both to the litigation procedure
arbitration proceedings.
itself, which is specifically designed to deal effectively with
commercial disputes between companies from different Statistics
countries, but also to the relevant procedural results. According to a recently published study on international
arbitration, 64% of the lawyers of large companies with
One such country with great influence in the world of global business operations identified London as the best
arbitration is the United Kingdom. The usefulness of such a

ID: IJTSRD35809 | Special Issue on Modern Trends in Scientific Research and Development, Case of Asia Page 29