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Mind The Gap: Proposing A Tool For Identifying Gaps In Institutional Arbitration Rules, Wheaton Webb

Florida A & M University Law Review

A recognized benefit of arbitration is the power of the disputants to select, usually in advance, the procedural rules that will govern their dispute resolution. The right to determine procedural rules may be particularly important in transnational agreements where contracting parties are from States with different legal cultures. Of course, Parties capitalizing on this advantage do not draft new procedural rules for every transaction. Instead, the parties incorporate procedural rules created by arbitral institutions into their agreements. This creates clear incentives for institutions to develop thorough yet flexible procedural rules. Despite this incentive, the rules themselves may be deficient in …