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This book offers an innovative approach to the topic of liability in international arbitration, a controversial topic that has heretofore not been fully explored in the scholarship. Arbitral institutions have recently emerged as powerful actors with new functions in and outside arbitration processes. The author proposes to shift the debate on liability from arbitrators to the arbitral institutions. The book re-evaluates the orthodox understanding of the status, functions, and responsibility of arbitral institutions and is recommended for arbitration scholars, practitioners, and students.
It is argued that the current regulations regarding liability are inadequate given both the contractual obligations and the emerging public function of arbitral institutions and that institutional arbitral liability is therefore necessary. The book also links the contemporary functions of arbitral institutions to recent debates regarding legitimacy challenges in international commercial arbitration. Responding to these challenges, a model of institutional contractual liability is proposed that invites arbitral institutions to proactively regulate the scope of their liability.
List of contents
Introduction.- Status and Functions of Modern Arbitral Institutions.- The Triad of Modern Functions of Arbitral Institutions - In Search of the Sources and Scope of Institutional Arbitral Liability.- Do Not Sue Us! On How the Current Institutional Regulations of Liability Do Not Respond to the Triad of Institutional Functions.- The Legal Dimension of Institutional Arbitration: On the Current National Regulations and "Visions" of Institutional Arbitral Liability.- Cutting the Gordian Knot: Proposals for the Institutional Reform of Arbitral Liability.- The Level and Scope of the Public Regulations on Institutional Arbitral Liability: Proposals.- Conclusion. Risk Acceptance Versus Risk Avoidance: On Why Arbitral Institutions Should Eventually Reform their Liability.
Summary
This book offers an innovative approach to the topic of liability in international arbitration, a controversial topic that has heretofore not been fully explored in the scholarship. Arbitral institutions have recently emerged as powerful actors with new functions in and outside arbitration processes. The author proposes to shift the debate on liability from arbitrators to the arbitral institutions. The book re-evaluates the orthodox understanding of the status, functions, and responsibility of arbitral institutions and is recommended for arbitration scholars, practitioners, and students.
It is argued that the current regulations regarding liability are inadequate given both the contractual obligations and the emerging public function of arbitral institutions and that institutional arbitral liability is therefore necessary. The book also links the contemporary functions of arbitral institutions to recent debates regarding legitimacy challenges in international commercial arbitration. Responding to these challenges, a model of institutional contractual liability is proposed that invites arbitral institutions to proactively regulate the scope of their liability.
