Comparative Evaluation Of International Arbitration Systems

Parinishtha, LLM, IILM University, Greater Noida

ABSTRACT

India has effectively grown up and established itself as a significant player in international trade and commerce, and as well as a rapidly expanding economic power. For meeting the specific requirements of Indian citizens, it is essential that our arbitration procedures and laws adhere to international best practices. Specifically, the Arbitration and Conciliation Act of 1996 owes its origins to the UNCITRAL Model Law which contains internationally recognized procedures for arbitration. Due to the ever- increasing transnationality and different jurisdictions of international commercial arbitration, today procedural aspects of the process vary significantly between nations.

This research aims to discuss mainly by way of a comparative analysis and relevant practices governing arbitration in following jurisdictions –China, Hong Kong, the United States, India, Singapore, and United Kingdom. This comparative study is to identify and understand the strengths and weaknesses of the arbitration law and practice prevalent in these jurisdictions, and ultimately use the insights gleaned to critique our own laws and incorporate stronger and better practices within the Indian arbitration regime. By synthesizing these insights, the paper aims to provide a holistic understanding of the international arbitration landscape and its future trajectory, emphasizing the need for ongoing dialogue and collaboration among legal practitioners, scholars, and policy makers to enhance the effectiveness and credibility of international arbitration.

Keywords: International Best Practices, Arbitration Law, Comparative Analysis, Procedural Flexibility, Human Rights in Arbitration, international arbitration.