Statistics produced by the leading arbitral institutions confirm there are now more arbitrations taking place than ever before. Arbitrations are conducted throughout the world against the backdrop of national and international laws, local norms and local customs, but there is no single body which seeks to regulate the conduct of arbitrations. Nevertheless, the arbitration laws of most jurisdictions will have at their heart a process which seeks to provide the fair (and binding) resolution of disputes by an impartial tribunal without unnecessary delay or expense.
The Arbitration Act 1996 provides parties with the framework for arbitrations with their seat in England, although the parties to an arbitration remain free to agree how their disputes are to be resolved, subject only to certain safeguards that are said to be necessary in the public interest.
