| dc.description.abstract | This thesis is concerned with the attitude of countries of the developing world to
international commercial arbitration. It argues that their perception of arbitration in
international trade is that the process does not favour them. In an attempt to explain that
perception it identifies several possible reasons, ranging from the character of arbitration as
a means of settling disputes, to the judicial treatment of awards in which the states have
been involved. The treatment of the subject is structured to correspond largely with the
three separate stages of the arbitration process. Chapters one and two address the legal
character of arbitration and its underlying philosophy. The reservations of many developing
countries are explained in terms of the differences in the understanding of the nature and
purpose of arbitration between, on the one hand, the countries concerned and, on the other
hand, the western systems on which the international model is based. Chapter three
addresses the conduct of arbitration proceedings under the International Centre for the
Settlement of Investment Disputes (ICSID) and the Mukilateral Investment Guarantee
Agency (MIGA) as examples of institutions created specificafly with the arbitration of
commercial disputes involving developing states in mind. The chapter argues that both
institutions are one-sided, thus contributing to the misgivings of the countries concerned.
Chapter four deals with the problem of the proper law of state contracts as recently evolved
by arbitration tribunals. It notes that there has been a shift from traditional principles of
conflict of laws, resulting in the isolation of the transactions from the only systems of law
with which they ordinarily would have the closest connection. It points out that the trend is
guided by policy not principle. It criticises the trend on that and other grounds. Chapter five
deals with the enforcement of awards. We point out in that chapter that little at that stage
of the process suggests a trend unfavourable to developing countries. | en_US |
