Functionality of Referring in International Commercial Arbitration

Abstract

The emergence of dispute and cases in international trade agreements has leaded both sides to a point to pre-determine cases for fulfillment of failures in the case of problems. In fact, it is a win-win situation when parties resolve the case in a right, secure and specialized way; then, they can return to their former normal trade relations. Economic and commercial areas require that commercial disputes be resolved as soon as possible and in ways appropriate to the needs and economic benefits. In the meantime, “arbitration” is the best and safest measure to achieve this goal. However, the need for arbitration to resolve disputes should be fulfilled with the expansion of trade in the international arena. Hence, a uniform law, called UNCITRAL Arbitration Act, was developed to judge in international commercial arbitrations. Iran is one of the countries that have accepted the Act. By studying the international commercial arbitration rule, this article tries to explain the way of referring to arbitration.

DOI: 10.5901/mjss.2016.v7n3p56