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Questions and Answers
What is the primary advantage of sectoral arbitration in terms of arbitrator expertise?
What is the primary advantage of sectoral arbitration in terms of arbitrator expertise?
Greater expertise: Arbitrators develop deep knowledge of the sector, leading to more informed decisions.
Which sector is NOT listed as a common sector for sectoral arbitration?
Which sector is NOT listed as a common sector for sectoral arbitration?
Healthcare
What is the potential drawback of sectoral arbitration in terms of arbitrator appointments?
What is the potential drawback of sectoral arbitration in terms of arbitrator appointments?
May lead to a lack of diversity in arbitrator appointments if the same individuals are repeatedly chosen.
What is the purpose of sector-specific rules and procedures in sectoral arbitration?
What is the purpose of sector-specific rules and procedures in sectoral arbitration?
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Which arbitration institution has established sector-specific arbitration rules and panels?
Which arbitration institution has established sector-specific arbitration rules and panels?
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What is the key feature of sectoral arbitration in terms of arbitrator selection?
What is the key feature of sectoral arbitration in terms of arbitrator selection?
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What is the benefit of sectoral arbitration in terms of consistency?
What is the benefit of sectoral arbitration in terms of consistency?
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What is a potential challenge of sectoral arbitration in terms of arbitrator impartiality?
What is a potential challenge of sectoral arbitration in terms of arbitrator impartiality?
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What type of disputes may not be suitable for sectoral arbitration?
What type of disputes may not be suitable for sectoral arbitration?
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What is the primary benefit of sectoral arbitration in terms of efficiency?
What is the primary benefit of sectoral arbitration in terms of efficiency?
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Study Notes
Sectorials Practice
What is Sectorials Practice?
- A type of practice in arbitration where a single arbitrator or a panel of arbitrators specializes in a specific industry or sector.
- Also known as "sectoral arbitration" or "industry-specific arbitration".
Benefits
- Greater expertise: Arbitrators develop deep knowledge of the sector, leading to more informed decisions.
- Efficiency: Familiarity with industry norms and practices streamlines the arbitration process.
- Consistency: Decisions are more likely to be consistent with industry standards and norms.
Common Sectors
- Construction and infrastructure
- Energy and natural resources
- Finance and banking
- Intellectual property and technology
- Sports and entertainment
Key Features
- Arbitrators are chosen for their expertise in the sector, rather than general arbitration experience.
- Sector-specific rules and procedures may be developed to address unique industry needs.
- Parties may be required to disclose their industry expertise and experience.
Challenges
- Arbitrators must balance sector-specific knowledge with impartiality and independence.
- May lead to a lack of diversity in arbitrator appointments if the same individuals are repeatedly chosen.
- Sectoral arbitration may not be suitable for complex, multi-disciplinary disputes.
Institutional Support
- Some arbitration institutions, such as the International Chamber of Commerce (ICC) and the London Court of International Arbitration (LCIA), have established sector-specific arbitration rules and panels.
- These institutions provide training and support for sectoral arbitrators and promote the development of sectoral arbitration practices.
Sectorials Practice
Definition
- Sectorials practice is a type of arbitration where a single arbitrator or a panel of arbitrators specializes in a specific industry or sector.
- Also known as "sectoral arbitration" or "industry-specific arbitration".
Benefits
- Allows for greater expertise: Arbitrators develop deep knowledge of the sector, leading to more informed decisions.
- Increases efficiency: Familiarity with industry norms and practices streamlines the arbitration process.
- Ensures consistency: Decisions are more likely to be consistent with industry standards and norms.
Common Sectors
- Construction and infrastructure
- Energy and natural resources
- Finance and banking
- Intellectual property and technology
- Sports and entertainment
Key Features
- Arbitrators are chosen for their expertise in the sector, rather than general arbitration experience.
- Sector-specific rules and procedures may be developed to address unique industry needs.
- Parties may be required to disclose their industry expertise and experience.
Challenges
- Arbitrators must balance sector-specific knowledge with impartiality and independence.
- May lead to a lack of diversity in arbitrator appointments if the same individuals are repeatedly chosen.
- Sectoral arbitration may not be suitable for complex, multi-disciplinary disputes.
Institutional Support
- Some arbitration institutions, such as the International Chamber of Commerce (ICC) and the London Court of International Arbitration (LCIA), have established sector-specific arbitration rules and panels.
- These institutions provide training and support for sectoral arbitrators and promote the development of sectoral arbitration practices.
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Description
This quiz covers the concept of sectorials practice in arbitration, its benefits, and common sectors where it is applied. It also explores the key features of sectorials practice.
