Loyola University Chicago

School of Law

Perspective Electives

274: International Commercial Arbitration

Credit Hours

1

Description

This is a one credit course taught sometimes in one of the summer programs. In this course, students will learn how international commercial arbitration works. In most international contracts, the parties agree that all disputes will be resolved by arbitration. This private dispute mechanism provides a number of advantages over litigation. One of the most important advantages is that by agreeing to arbitrate, a party avoids ending up in the other party's court system. An arbitration award is also more easily enforced in a foreign jurisdiction than a court judgment, because of an international treaty known as the New York Convention. Students will learn about the various laws and rules governing international arbitration, as well as specific, practical knowledge about arbitrating, such as how to draft an arbitration clause, how to choose an arbitral institution, how to select arbitrators, the ethical rules that apply to arbitrators, the bases for challenging arbitrators, the conduct of the arbitral hearing, rules governing admission of evidence, availability of interim measures, the grounds for vacating an award, and the means of enforcing an award.