Ensuring Digital Signature Legitimacy for Arbitration Agreement in United Kingdom

How to eSign a document: digital signature legitimacy for Arbitration Agreement in United Kingdom

hello in the following video i will be giving you a brief overview of the most important issues concerning arbitration agreements and arbitration clauses and i will try to emphasize the importance they have for any successful commercial arbitration tyler floyd zankovic one global team focused on what you do in the first place i think it is important to recap the main difference between litigation and arbitration which is that in arbitration the parties explicitly consent to waive their right to have the dispute settled before state courts so in order for an arbitration to be initiated in the first place one needs both parties consent and this consent is usually agreed upon in an arbitration clause or an arbitration agreement the main difference between these two instruments is that arbitration clauses are usually included into a contract as a clause and there by regulate future disputes that might arise and clauses can also make reference to other documents that include an agreement to arbitration on the other hand arbitration agreements usually regulate an already existing dispute and parties in a separate document to other contracts just regulate that they want this particular dispute to be resolved through arbitration so i already said that arbitration agreements are very very important for the initiation of an arbitration however beyond the initiation arbitration agreements may also affect the enforcement of an arbitral award in the first in the end this is because under the new york convention on the recognition and enforcement of arbitral awards an award is only enforceable when the foregoing proceedings are based on a valid arbitration agreement so you might think now what are the most important aspects that make an arbitration agreement valid in the first place so here are three important things one must always to consider first of all arbitration agreements always have to be in written form this is not only advisable because for reasons of securing evidence but it is usually also a legal requirement for arbitration agreements to be or clauses to be in written form the second important ish aspect is that and this is probably the most important one is that it must be absolutely clear there must be no doubt that the involved parties consent to have their disputes settled through arbitration the third aspect is that arbitration agreements have to be operative and capable of being performed this means that they must contain the most important information for the arbitration so the parties have to be identified or at least identifiable and the subject matter of the dispute also has to be identified or it must be at least possible to identify the subject matter of the dispute apart from these three vital ingredients for an arbitration agreement or an arbitration clause there are many many different aspects that the parties may include in an arbitration agreement in order to specify the arbitration proceedings ing to their wishes or their needs therefore at the beginning when drafting an arbitration agreement it is always advisable to think about the question what do i actually want what are the issues that could come up is confidentiality for example an issue do i want the dispute to be settled by certain arbitrators who are experts in a certain field should there be a possibility to to appeal the award in the end all of these reasons should be considered at first and also based on that one must make the first big decision which is the choice of arbitration rules the arbitration rules are the procedural rules for the arbitration so to say the framework in which the arbitration takes place so and here one must make the choice again between institutional arbitration or ad hoc arbitration when choosing institutional arbitration it is very recommendable to have a look at possible sample clauses usually the institutions provide those and these tend to be very useful to to have a look at what is necessary for an arbitration clause to be valid under these arbitration rules and they're always a good point to start apart from that it doesn't matter what arbitration rules one chooses usually the it's up to the party's discretion how many arbitrators should form a tribunal what language the arbitration should be held in and where the arbitration should take place so i hope this gave you a brief overview of the most important aspects and as a takeaway i think it is important to remember that it must be absolutely clear that the parties consent to the use of arbitration thank you very much