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An Overview of International Arbitration

An Overview of International Arbitration

It is a consensual judicial system at the will of the parties, which is concerned with international arbitration between the two parties in the event of joint cooperation or in the event of resolving disputes and settling disputes, as resorting to arbitration has become the best way to settle commercial and investment disputes and an effective means and an important and necessary matter to meet the needs and requirements of modern international trade. (For example, the joint cooperation that took place between the Kuwaiti government and the British government on Kuwaiti oil exploration in 1936)

International arbitration has become a necessity imposed by the reality of international trade in the modern era, where the requirement to resort to arbitration has become a basic clause when concluding contracts between contractors, and it is considered an effective means to avoid and resolve disputes arising from international trade contracts related to investment, including long-term international contracts related to trade and industry, Technology transfer contracts and services, construction contracts, financial aspects related to intellectual property … etc.

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