Societies provide institutions that are costly to use, but able to enforce long-run relationships. We study the optimal decision problem of using self-governance for risk sharing or governance through enforcement provided by these institutions. Third-party enforcement is modelled as a costly...

Although an overwhelming proportion of all legal disputes end in settlement, the determinants of the timing of settlement remain empirically underexplored. We draw on a novel dataset on the duration of commercial disputes in Slovenia to study how the timing of settlement is shaped by the stages...

International Commercial Arbitration if flourishing within the European Union. People refer to it more than ever and, besides, national legislators are enacting new Arbitration Act to the extent that almost all EU Member States have modified the regulation on Arbitration during the last decade....

Generally speaking, each individual jurisdiction has adopted its own approach concerning the rules on the determination of the governing law applicable in proceedings in international matters. In the international practice, arbitral panels usually distinguish four relatively autonomous areas...

When drafting an agreement between a client and its Chinese counterparty, one of the central questions is how conflicts shall be resolved that may arise out of the agreement. Based on the skepticism about the Chinese judicial system, concerns about local protectionism, and the inability to...

Section 31(8) of the Arbitration and Conciliation Act, 1996 as originally enacted dealt with costs in arbitration. The evolution of the law on the subject led to dissatisfaction. After numerous calls for reforms, the Law Commission of India in its 246th Report sought overhaul of the existing law...

International Arbitration in Korea provides a comprehensive introduction to more than 140 arbitral cases and commentaries in Korea and introduces the arbitration community to the jurisprudence and scholarship of this under-appreciated but well developed jurisdiction. The book encompasses all the...

This article examines the arbitration clause under the standard Time Charter NYPE 93 Form. Despite its widespread adoption in the brokering of international chartering agreements, the form's failure to require a definitive choice of arbitral seat brings about practical difficulties in...