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Authors

Meeran Ahn

First Paragraph

The International Court of Arbitration (ICA) of the International Chamber of Commerce (ICC) is among the world's major institutions for resolving international commercial and business disputes. The ICC's Court of Arbitration was established in 1923 and has administered more than 17,000 cases. The reach and global prominence of the ICA is reflected in its 2010 statistics. In 2010, 793 cases were filed, 479 awards rendered, and involved 2,145 parties from 140 countries. ICC arbitration offers an attractive alternative to confidentiality and freedom for the parties to choose the place of arbitration, applicable rules of law, language of the proceedings, and arbitrators. The formal procedures of ICC arbitration lead to a binding decision from an arbitral tribunal that is enforceable to both domestic arbitration laws and international treaties.

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