International Arbitration: The Seat is King - THE ART OF AMICABILITY, #1 - E-book - ePub

The notion of "seat" or "Place" is one of the most disconcerting in the international arbitration system. It is usually confused with similar notions such as "Site", "City", "Venue", "Forum", "Home", "Territory" or "Jurisdiction". Legal professionals add to the complexity with Latin expressions referring to the same such as "Lex fori" (the law of the forum - the jurisdiction -the venue) or "Lex Loci" (the law of the place"). Beyond the nod to Thailand with the title "The Seat is King", this book is a tribute as well as a contribution to the knowledge and practice of international arbitration in the Kingdom of Thailand.
Identifying the seat of arbitration, the home legal system is one of the most important features of an arbitration clause. It sets the framework for the law governing the arbitration procedure and more importantly, the process and rights relating to the enforcement of the arbitral award. The battle around the world for having the best or safest arbitration seat is real. What are the assets that a country can display to win such a beauty contest? Generally speaking, the seat of the arbitration matters because it allows the arbitrator to determine conflict of law rules, as well as assistance, support, or control of the state judges.
The "seat" or "place" of the arbitration has long been recognized as far more than a place where the main evidentiary hearing might be held. In many arbitrations, procedural meetings are often held remotely or in places other than the seat when it is more convenient to the parties and the tribunal. It is now widely accepted that the choice of seat has a range of potentially significant implications for supporting - or undermining - the effective and efficient conduct of the arbitration and the enforceability of the award. The book will also cover futuristic perspectives such as the transformation of legal documents into visual art thanks the blockchain technology and especially by using NFTs.
I will discuss how an NFT can free an arbitration agreement, an arbitration process, an award, and its enforcement from the constraints of the Seat! Going further the chapter on "Blockchain arbitration and the seat" will look at how blockchain technology can potentially resolve all problems related to the seat of arbitration, through a peer-to-peer dispute resolution mechanism. From the arbitration agreement to the award and its enforcement, smart contracts will help resolve every issue traditionally covered by the seat of arbitration.
Potentially, the support judge will not be needed anymore and the new york convention of 1958 may be obsolete! The book is an informative and entertaining journey to the seats of arbitration around the realms of the world and technology.