Document Type : Research Paper
Authors
1
Department of Law, Faculty of Law, Islamic Azad University of Najafabad, Iran.
2
Ph.D. in private law, Lecturer at Islamic Azad University, Khorasgan Branch, Isfahan, Iran
3
Master's student, Islamic Azad University, Meymeh branch, Meymeh. Iran.
10.22099/jls.2024.49167.5079
Abstract
Today beyond the socialist school, which based on a wrong thinking only considers the legitimacy of making laws for the national legislation, in different social societies and especially in international commercial arbitration, the private power of making law has been recognized and it has been emphasized in numerous arbitration opinions. Therefore, in response to this key question, whether the legitimacy of international commercial arbitration should be sought in the granting of power by the national legislators to the arbitration institution or that arbitration in foreign trade has a self-regulating feature and does not derive its legitimacy from any specific national system, it is not possible without considering the unique facts and the environment of arbitration. The new approach to specialized societies,including arbitration in foreign trade, has shown that this legal institution does not consider itself a debtor to any specific legal system,because its rules, beyond the direct involvement of different countries, have been self-regulated and are evolving.In this article, the authors with descriptive-analytical method and by referring to library resources will analyze the basics related to the possibility of considering the arbitration institution as a self-regulation system in foreign trade as well as the analysis of the motivations related to the establishment of the private order of arbitration and they will also respond to the objections related to the socialist view of the arbitration institution.The materials presented from different aspects show that international commercial arbitration can be considered as a market-oriented legal institution and also as a private self-regulation system.
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