Arbitration Clause

The Law recognises the validity and effect of a commitment by the parties to submit to arbitration an existing dispute or a dispute which may arise between them in respect of defined legal relationships, whether contractual or not.

The expression "International Commercial Arbitration" has been defined to mean, in short, an arbitration relating to a commercial dispute which, at least, has one of the parties belonging to a foreign country. Such party may be an individual, body corporate, a company or the Government of a foreign country.