The Future Convention on Exclusive Choice of Court Agreements and Arbitration - Parallel proceedings and possible treaty conflicts, in particular with ICSID and the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards
Article from: TDM 5 (2006), in Procedure, Advocacy, Strategy and Tactics in Arbitration
Summary
In 2002 / 2003 the International Chamber of Commerce carried out an empirical study among member companies concerning business practices relating to choice of court agreements. It was reported that it is common practice for parties to conclude both a choice of court agreement and an arbitration agreement. Moreover, recently a number of arbitral decisions were rendered under the Convention on the Settlement of Investment Disputes between States and Nationals of other States (ICSID) which was elaborated under the auspices of the World Bank and has 142 Contracting States. The ICSID ...