ISSN 2736-1608
International Journal of Law and Legal Studies ISSN 2463-5634 Vol. 2 (6), pp. 155-159, July, 2015. © International Scholars Journals
Review
Hindrances to international commercial arbitration Institution
Agbofodoh R. Franklin
Commercial and Property Law, Faculty of Law, University of Benin, Benin City, Nigeria.
E-mail: [email protected]
Accepted 24 June, 2015
Abstract
Arbitration is a private exercise based on the agreement of the parties and is administered by appointed ad hoc arbitral tribunal or established arbitral centre or institution. International commercial arbitration which is one of the procedures for resolution of international commercial disputes is patronized by many commercial men and women including corporate bodies and states. The essence of this paper is to inquire into the obstacles confronting this international lucrative procedure for settlement of commercial disputes between private individuals, private individuals and state, and between state and state parties. This paper will among others consider the obstacle of national courts, cost of arbitration, nationality of the arbitrators, political instability and unrest, etc.
Key words: Obstacles, international commercial arbitration, law.