London Court of International Arbitration
The London Court of International Arbitration (London International Court of Arbitration, LCIA ) is in London -based institution of international arbitration . Any party, regardless of location or legal system, can call the LCIA.
Although the focus is on assisting arbitration , the LCIA is also active in mediation .
history
The history of the LCIA began on April 5, 1883, when the Court of Common Council of the City of London formed a committee to develop ideas for the establishment of a tribunal for the settlement of domestic and transnational trade disputes within the city's borders.
In an 1893 article in the Law Quarterly Review , the Court of Justice was described at its inception as “a chamber that appears to have all the virtues that the law lacks. It is fast where the law is slow, cheap where the law is expensive and simple, where the law is technical, a peacemaker rather than a quarrel ”.
The plan was submitted in 1884 in cooperation with the London Chamber of Commerce . However, until the English Arbitration Act of 1889 was passed, the plans were put on hold. In April 1891 the draft was adopted and the Court named The City of London Chamber of Arbitration .
In April 1903 it was renamed the London Court of Arbitration and in 1981 the London Court of International Arbitration , in order to emphasize the international character of the organization.
Current activity
The LCIA is now one of the largest international arbitration organizations. The procedures and rules are announced publicly and are also used in ad hoc arbitration proceedings in which the LCIA is not represented.
The LCIA is registered as a not-for-profit public company under English law. The Board of Directors is comprised primarily of well-known London-based arbitration practitioners and determines the operation and development of the business and compliance with applicable law. However, the Board does not take an active role in arbitration proceedings.
The LCIA Court of Justice is the ultimate authority for the correct application of the LCIA rules. It plays a key role in appointing tribunals , invoking arbitrators, and controlling costs. Although the LCIA Court meets regularly in plenary sessions, its functions are performed directly by the President, Vice-President or a division of the Court. The Tribunal consists of up to 35 members, selected to represent the leading world trading centers and not more than six members of English nationality.
In 2013, a total of 290 arbitration proceedings were initiated under the aegis of the LCIA, 80% of them with an international background. There are also 11 invocations for mediation and other ADR forms. Compared to 2012, the number of cases increased by 10%.
Web links
literature
- Scherpf / Majumdar: The Revised LCIA Arbitration Rules 2014, arbitrVZ 2014, 227