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PROPOSED U.S. ARBITRATION REFORM AND THE THREAT TO INTERNATIONAL ARBITRATION

Explore the essential differences between domestic and international arbitration, the success of international arbitration, and the need for reform to ensure its effectiveness in resolving disputes. Discover why international arbitration is crucial for parties worldwide.

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PROPOSED U.S. ARBITRATION REFORM AND THE THREAT TO INTERNATIONAL ARBITRATION

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  1. PROPOSED U.S. ARBITRATION REFORM AND THE THREAT TO INTERNATIONAL ARBITRATION Alexandre de Gramont Crowell & Moring LLP CPR 2009 Annual Meeting New York City January 2009

  2. International arbitration is no more a “type” of arbitration than a sea elephant is a type of elephant. True, one reminds us of the other. Yet the essential difference of their nature is so great that their similarities are largely illusory. -- Jan Paulsson, “International Arbitration Is Not Arbitration,” John E.C. Brierly Memorial Lecture, McGill University, May 28, 2008

  3. The Fundamental Difference Domestic arbitration is an alternative to domestic litigation. International arbitration is a necessity. The only neutral and impartial way for international parties to resolve their disputes. Crowell & Moring LLP Washington, DC · New York· California · London · Brussels

  4. Mexico China Korea Taiwan Brazil Malaysia United Arab Emirates Venezuela Colombia Thailand Chile Philippines Russia The Fundamental Difference Top thirty U.S. trade partners (measured by U.S. exports) include:

  5. The Fundamental Difference • It is far easier to enforce an arbitration award internationally than a judgment. • UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958) has been ratified by nearly 150 nations.

  6. The Success of International Arbitration • 81% of the cases result in settlement or voluntary compliance with the arbitral award. • Most parties are able to enforce within one year and usually recover more than 75% of the value of the award. • 86% of corporate counsel said they were satisfied with international arbitration. - Price WaterhouseCoopers, International Arbitration: Corporate Attitudes and Practices 6 (2008)

  7. “While we have experienced commercial arbitration in domestic trade for many years and this has been successful and helpful in a variety of ways, I suggest that arbitration in international commerce is really of a wholly different order of importance. Here to get effective and reasonably predictable and fair resolutions arbitration has become essential in a way it never has been in domestic matters.” -- Nicholas de B. Katzenbach, “Business Executives and Lawyers in International Trade,” in Sixty Years of ICC Arbitration: A Look at the Future 67, 67-68 (ICC Int’l Court of Arbitration ed., 1984) Crowell & Moring LLP Washington, DC · New York· California · London · Brussels

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