Glossary
The treaty under which contracting states recognise and enforce arbitral awards made in other member states, the reason arbitration travels well across borders.
International Arbitration
from Commercial Disputes
International arbitration is the primary mechanism for resolving cross-border commercial and investment disputes outside national courts. The parties agree — usually in a contract clause — to submit disputes to a neutral tribunal. Leading institutional rules include those of the LCIA (London Court of International Arbitration), the ICC (International Chamber of Commerce), and ICSID (for investor-state disputes). A critical advantage of arbitration is enforceability: awards made in any of the 170+ signatory states to the New York Convention can be enforced in other signatory states, whereas court judgments require separate enforcement arrangements. London and Paris are the two most popular seats (legal homes) for international arbitration.
Disclosure
The process by which each party to litigation reveals to the other the documents relevant to the issues in dispute.
Injunction
A court order compelling a party to do something (mandatory) or refrain from doing something (prohibitory), breach of which is contempt of court.
Freezing Order
A court order preventing a party from dealing with or dissipating its assets, designed to preserve funds for a potential future judgment.
Arbitral Award
The binding decision issued by an arbitral tribunal, enforceable internationally under the New York Convention.
Seat of Arbitration
The legal jurisdiction governing the arbitration proceedings (as distinct from the physical venue), determining the courts with supervisory jurisdiction.
Third-Party Funding
An arrangement where an external funder finances a party's legal costs in return for a share of what the claim recovers — a structure English law has treated as contentious since PACCAR.
Pre-Action Protocol
Rules requiring parties to exchange information and attempt settlement before issuing court proceedings, with cost penalties for non-compliance.
Without Prejudice
A legal privilege protecting statements made in genuine settlement negotiations from being disclosed to the court.