The Arbitration Act is enjoying the prolonged 10th anniversary celebration to which many in the international business community will feel it is entitled. The completion of the Act’s first decade presents an opportunity for users and practitioners of arbitration to reflect on a statute that was intended to “restate and improve the law relating to arbitration pursuant to an arbitration agreement”. Few would deny it has achieved that stated aim.
The Act, which came into effect on 31 January, 1997, provides a framework for the resolution by private tribunals in the UK (excluding Scotland) not only of disputes between UK companies (domestic arbitration), but also of disputes between foreign companies which, apart from their arbitration agreement, may have no connections with the UK (international arbitration).
