According to Michael Hay, a lawyer specializing in North Korean law, North Korea has an advanced arbitration system, even compared to developed countries, and foreign companies face a level playing field when it comes to dispute resolution. The arbitration could be concluded in just six months. According to Hay, North Korea maintains an advanced dispute settlement system to facilitate foreign investment. [25] Arbitration is a procedure in which a dispute is settled by an impartial judge whose decision has been agreed to by the parties to the dispute or who has legislated is final and enforceable. The rights of review and appeal of arbitral awards are limited. Arbitration is not the same as: court proceedings (although in some jurisdictions court proceedings are sometimes referred to as arbitration[2]), alternative dispute resolution (ADR)[3], expertise, mediation (a form of settlement negotiation facilitated by a neutral third party). Arbitration is a procedure in which a dispute is submitted in agreement with the parties to one or more arbitrators who make a binding decision on the dispute. When choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court. The U.S. Supreme Court ruled that the Federal Arbitration Act (FAA) of 1925 established public policy in favor of arbitration.
For the first six decades of its existence, the courts did not allow arbitration for “federal claims” through a clear doctrine of “non-arbitration,” but in the 1980s, the U.S. Supreme Court struck down and began using the law to require arbitration if it was included in the treaty for federal legal claims. [21] Although some jurists believe that it was originally intended to apply only to federal courts, courts now regularly require arbitration under the FAA, regardless of state laws or ignorance of public order by state courts. [21] In consumer law, model contracts often contain mandatory dispute resolution clauses that require consumer arbitration. Under these agreements, the consumer can waive their right to a lawsuit and class action. In 2011, one of these clauses was included in AT&T Mobility v. Concepcion. [21] Sometimes, even if a pre-arbitration assessment shows that a matter is highly meritorious, a client does not have sufficient funds or does not want to use the necessary means to conduct the arbitration to its conclusion. In such cases, arbitration lawyers can help clients obtain what is known as third-party funding, although funders rarely fund international cases where the amount in dispute is less than $3 million. This is rarely an option for a defendant, unless the defendant has to assert counterclaims.
Lack of transparency. Because arbitration is confidential, there is a lack of transparency and guarantees that courts restrict decision-making. It is more common for international treaties to include an arbitration clause that provides for the opening of arbitration proceedings to resolve disputes between the parties. [1] Although parties are generally not required to appoint lawyers in arbitration proceedings, this is highly recommended for all but the smallest cases. [2] But what do arbitral lawyers actually do? In the following sections, we will present the seven main types of work that arbitral tribunal lawyers usually do to help their clients. Any position can be unfair; If a person is forced to sign a contract under duress and the contract contains an arbitration clause very favourable to the other party, the dispute may still be submitted to that arbitral tribunal. [Citation needed] Conversely, a court may be satisfied that the arbitration agreement itself is void after being signed under duress. However, most courts will be reluctant to interfere with the general rule that allows for commercial expediency; Any other solution (where one would first have to go to court to decide whether or not to go to arbitration) would be self-destructive. Arbitral tribunal lawyers also prepare, direct, direct, cross-reference and redirect witnesses and experts for the examination of witnesses and experts at oral hearings. Agreements to submit disputes to arbitration generally have a special status in the eyes of the law.
For example, in disputes relating to a contract, a common defence is to argue that the contract is void and that, therefore, any claim based on it fails. It follows that if a party successfully claims that a contract is void, any clause contained in the contract, including the arbitration clause, would be null and void. However, in most countries, the courts have accepted that if the arbitration fails and one or both parties challenge the final decision of the case, it is up to the courts to decide. When preparing procedural proposals and pleadings, as well as oral pleadings, arbitral lawyers must be familiar with the law applicable[5] to the dispute. In other words, in order to consolidate their clients` case, arbitral lawyers conduct in-depth legal analysis and research under applicable law and apply it to the factual issues in question.
