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Questions and Answers
What is the main purpose of an Arbitration Agreement?
What is the main purpose of an Arbitration Agreement?
- To establish a permanent arbitral institution
- To fix specific time limits for arbitral tribunals
- To submit all or certain disputes between parties to arbitration (correct)
- To appoint arbitrators for the dispute resolution process
In what form must an arbitration agreement be according to the text?
In what form must an arbitration agreement be according to the text?
- Agreement documented by a permanent arbitral institution
- Written agreement between the parties (correct)
- Verbal agreement between the parties
- Agreement documented by a judicial authority
What happens if an arbitration agreement exists and an action is brought before a judicial authority?
What happens if an arbitration agreement exists and an action is brought before a judicial authority?
- The arbitration will continue without any influence from the judicial authority
- The parties will be referred to arbitration by the judicial authority (correct)
- The judicial authority will take over the arbitration proceedings
- The judicial authority will terminate the arbitration process
What is the significance of Sec-8 in the context of arbitration?
What is the significance of Sec-8 in the context of arbitration?
If the parties do not agree on the place of arbitration, who has the authority to determine it?
If the parties do not agree on the place of arbitration, who has the authority to determine it?
What power does the Arbitrator have in relation to evidence during the arbitral proceeding?
What power does the Arbitrator have in relation to evidence during the arbitral proceeding?
In an arbitral proceeding, what must the respondent submit along with their statement of defense?
In an arbitral proceeding, what must the respondent submit along with their statement of defense?
Under the Arbitration Clause discussed, what happens if parties fail to agree on the procedure to be followed by the Arbitrator?
Under the Arbitration Clause discussed, what happens if parties fail to agree on the procedure to be followed by the Arbitrator?
What is the maximum number of arbitrators parties can agree to have according to the text?
What is the maximum number of arbitrators parties can agree to have according to the text?
If the parties do not agree on a specific appointment procedure, what happens in an arbitration with three arbitrators?
If the parties do not agree on a specific appointment procedure, what happens in an arbitration with three arbitrators?
In case of delay in the appointment of an arbitrator, who can make the appointment upon request of a party?
In case of delay in the appointment of an arbitrator, who can make the appointment upon request of a party?
What must an arbitrator disclose in writing before accepting an appointment?
What must an arbitrator disclose in writing before accepting an appointment?
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