International Arbitration Law
The purpose of international arbitration law is to settle disputes between States or individuals by arbitrators or judges of their choice and on the basis of respect for the international law. This definition of arbitration, given in Article 37 of the Hague Convention of 18 October 1907 on the Pacific Settlement of International Disputes, is the most precise and, as such, accepted by most scholars.
Arbitration, thus, asserts itself, by its consensualism base, as the most typical procedure of the relational society of sovereign states. Closer to the forms of ordinary judicial procedure than to the diplomatic efforts, international arbitration, therefore, presupposes between the States or individuals who resort to certain solidarity or at least the adoption of a minimum of common legal language.
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