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Arbitration is a formal method of dispute resolution involving a neutral third party who makes a binding decision. The third party neutral (the 'arbitrators', 'arbiters' or ' arbitral tribunal ') render the decision in the form of an ' arbitration award '. An arbitration decision or award is legally binding on both sides and enforceable in the ...
t. e. The posting rule (or mailbox rule in the United States, also known as the " postal rule " or " deposited acceptance rule ") is an exception to the general rule of contract law in common law countries that acceptance of an offer takes place when communicated. Under the posting rule, that acceptance takes effect when a letter is posted ...
The United Nations Convention on Contracts for the International Sale of Goods ( CISG ), sometimes known as the Vienna Convention, is a multilateral treaty that establishes a uniform framework for international commerce. [1] [. Note 1] As of December 2023, it has been ratified by 97 countries, representing two-thirds of world trade.
Meeting of the minds (also referred to as mutual agreement, mutual assent or consensus ad idem) is a phrase in contract law used to describe the intentions of the parties forming the contract. In particular, it refers to the situation where there is a common understanding in the formation of the contract. Formation of a contract is initiated ...
International Court of Arbitration. ICC International Court of Arbitration is an institution for the resolution of international commercial disputes. It operates under the auspices of the International Chamber of Commerce and consists of more than 100 arbitrators from roughly 90 countries. [1]
Arbitration, in the context of the law of the United States, is a form of alternative dispute resolution. Specifically, arbitration is an alternative to litigation through which the parties to a dispute agree to submit their respective evidence and legal arguments to a third party (the arbitrator (s) or arbiter (s)) for resolution.
Forum (alternative dispute resolution) Forum, formerly known as the National Arbitration Forum (NAF) is an American organization that provides arbitration and mediation services to businesses, based at its Minneapolis headquarters and offices in New Jersey. The organization was founded in 1986. As of 2008, the National Arbitration Forum ...
v. t. e. The UNCITRAL Model Law on International Commercial Arbitration [1] is a model law prepared by UNCITRAL, and adopted by the United Nations Commission on International Trade Law on 21 June 1985. In 2006, it was amended and now includes more detailed provisions on interim measures. The model law is not binding, but individual states may ...
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