Arbitration International Arbitration Practice

Question 1

Which institution administers international commercial arbitration under the ICC Rules?

Accepted Answer

International Chamber of Commerce Court of Arbitration

Answer

The ICC International Court of Arbitration administers cases under the ICC Arbitration Rules, one of the most widely used international commercial arbitration institutions.

Question 2

What is the 'Terms of Reference' in ICC arbitration?

Accepted Answer

A document summarizing the parties' claims and the issues to be decided, signed by the tribunal and parties

Answer

The ICC Terms of Reference is a document drafted early in the proceedings that defines the claims, defenses, and issues to be resolved, signed by both parties and the tribunal.

Question 3

Under LCIA Rules, how are arbitrators typically selected?

Accepted Answer

Parties nominate arbitrators, with the LCIA Court appointing in default or confirming nominations

Answer

Under LCIA Rules, parties nominate their arbitrators, but the LCIA Court has wide discretion to appoint arbitrators, especially when parties fail to agree or nominate.

Question 4

What does 'bifurcation' of proceedings mean in international arbitration?

Accepted Answer

Separating the proceeding into distinct phases, such as liability and quantum (damages)

Answer

Bifurcation means dividing the arbitration into sequential phases—commonly liability first, then damages—which can save cost if the claimant does not prevail on liability.

Question 5

What is the UNCITRAL Arbitration Rules primarily designed for?

Accepted Answer

Ad hoc international arbitrations without an administering institution

Answer

The UNCITRAL Arbitration Rules are designed for ad hoc international arbitrations conducted without an administering institution, giving parties and arbitrators maximum flexibility.

Arbitration - Arbitration and Dispute Resolution Certification Practice Test

Arbitration - Arbitration and Dispute Resolution Certification Practice Test

Arbitration International Arbitration Practice