UNIFICATION OF STATUTORY REGULATION OF THE INTERNATIONAL COMMERCIAL ARBITRATION
Journal Title: Юридичний науковий електронний журнал - Year 2016, Vol 6, Issue
Abstract
One of the most important institutions of modern law is the International Commercial Arbitration, which has a long and extensive history of legal development. Currently, the International Commercial Arbitration is a well-known institution for settlement of foreign economic disputes of a civil law character. The availability of a regulatory and legal framework is of great importance for the International Commercial Arbitration. The issues of its activity are governed at the international and national levels. Despite the popularity and widespread use of arbitration, the problem of unification of its legal regulation remains a genuine concern under modern conditions. Differences in legal systems complicate the recognition and enforcement of arbitral awards. In order to avoid the difficulties and obstacles there is a need in the unified regulation of relevant legal arrangements, which forces the states to come to mutually agreeable solutions through unification of statutory regulation and conclusion of international agreements, conventions and adoption of the relevant laws. This article explores the issues of unification of statutory regulation of the International Commercial Arbitration at the international and national levels. The author of this article analyses the norms of the Geneva Protocol on Arbitration Clauses (1923), Geneva Convention on the Execution of Foreign Arbitral Awards (1923), New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958), the European Convention on International Commercial Arbitration (1961), the Law of Ukraine “On International Commercial Arbitration” (1994). In addition, the author looks into the regional acts, the Panama Convention (1975), and the documents in the sphere of regulation of the relations of the International Commercial Arbitration of a non-normative nature: the UNCITRAL Model Law on International Commercial Arbitration, which was adopted by the UN Commission at the 18th session of 21 June 1985, and the UNCITRAL Arbitration Rules 2010, which replaced the UNCITRAL Rules 1976. The article studies the issue of shortcomings of the legal regulation of the international commercial arbitration and makes conclusions that the issues of harmonization of standards that regulate the international commercial arbitration are underexamined in science, they are not given due attention, there are no comparative-legal and complex research of the mentioned issues.
Authors and Affiliations
І. В. Коваленко
Keywords
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