International Commercial Arbitration
Arbitration is a process by which parties consensually submit a specific dispute to a non-governmental decision-maker to render a binding decision, namely an award, resolving the dispute at hand. Arbitration is especially preferable in international commercial disputes, due to its several critical advantages, some of them being neutrality of the tribunal, international enforceability of the award, procedural flexibility, and confidentiality. Day by day, arbitration is chosen as an alternative dispute resolution mechanism by more and more merchants conducting business internationally, thereby is a current hot-topic in international and national legal arena and a new and exciting subject to specialize.
In this session of JMC, the participants to the International Commercial Arbitration Kuvartz Co. v. Salem LLP will serve as arbitrators or counsels in an Ad Hoc Arbitration under the UNCITRAL Arbitration Rules. The UNCITRAL Arbitration Rules are adopted by the United Nations Commission on International Trade Law (UNCITRAL) in order to provide procedural rules for those that have not agreed upon the rules of a specific arbitration institution in their arbitration agreement.
Correspondingly, the dispute of the case Kuvartz Co. v. Salem is mainly concentrated on the obligations of the parties and unjust termination of an international sales contract and the substantive law is the Convention on the International Sale of Goods (CISG) which is adopted by the parties as the governing law in the arbitration agreement. CISG is signed in 1980 and establishes a set of rules to be applied in international sales of goods to remove the national legal boundaries and pave the way for better international commercial relations in an attempt to the creation of an internationally unified business code. Even though its sphere of application is imposed in its first Article, it can also be accepted as the governing law in arbitration proceedings through the consensus of the parties to the arbitration, as it is the case in Kuvartz Co. v. Salem.
Today, both the CISG and International Commercial Arbitration, together or apart, enjoy a significant amount of recognition in international trade. The participants to this Committee will learn about the functioning of international commercial arbitration, as well as the CISG and will discuss both procedural and substantive matters while expanding their knowledge in these critical legal subjects.
Co-Under Secretary-General: Sabahattin Öztemiz
Co-Under Secretary-General: Ayşenur Kol
Academic Assistant: Burcu Kubilay