International arbitration has become the most preferred method to solve the disputes that are arisen between the companies in cross-border partnership. Due to the flexibility, confidentiality and efficiency, hiring an Arbitrator from International Arbitration Firm is better than submitting your case to litigations.
An arbitral tribunal composed by one or three arbitrators can be specifying it on the business contract. And both parties can select each arbitrator respectively and a mutual consent arbitrator as a Chairman of tribunal.
Arbitrators are endowed with certain power to perform their functions within this legal framework of international Arbitration. Without these powers, the arbitrators will unable to act. However, as an arbitrator, they are expected to perform some Duties for the beneficial of both parties in arbitration proceedings, such as
Duties Imposed By The Parties
The parties may impose some specified duties on the arbitrators in agreements either before the arbitrator is appointed or during the course of arbitration. The arbitrator has the responsible be careful to know each specific requirement before taking up the appointment.
Duties Imposed By Law
The applicable law imposes some standard duties on the arbitral tribunal or arbitrator. An arbitrator will unable to act if without a legal system as backing. Some recognized duties of arbitrators as following:
- Duties to follow rules of natural justice
- Duties to be impartial and independent
- Duties of disclosure
- Duties to act fairly to both parties
- Duty to keep the arbitration confidential
- Duties to consider all evidence offered
- Duties to decide according to law
- Duties to conduct the arbitration fairly and without undue delay
This post first appeared on Three Things That Makes An International Arbitration Law Firm Reliable, please read the originial post: here