Comparing the International commercial Arbitration rules of Switzerland (Geneva) and Singapore

Abstract

Settlement that are happening out of the court with the help of mediation and conciliation that all comes under arbitration mechanism. when globalisation is increasing day by day in every country and every one is expending there business with mergers in multination companies across the globe, that has shown the requirement of a unique body to handle the cases because each country is having there own rules and regulation that are applicable in there country only and that is not applicable in other countries of the world so for settlement they require a uniform code of conduct so that both parties could understand that and implement that in their own countries. By seeing the latest development in arbitration process, we can say that there was a requirement of international commercial arbitration, that was so important for every country of the world.

International commercials arbitration is applicable in whole world because countries have made their own arbitration laws so that before indulging in any contract the parties should read and understand the arbitration law of other parities as well, after analysing and interpreting the laws they should enter into any contract. Arbitration law are more easer because the cases could be handled more easily within limited resources that is time and money, so its more appropriate for multination deals because there rules and law are controversial and typical to understand, so in this paper we will discussing the rules and laws of international commercial arbitration of different countries of the world.