A Reflection on the Theory of Denationalization in International Commercial Arbitration

Document Type : Research Paper

Authors

1 Department of Law, Faculty of Law, Islamic Azad University of Najafabad, Iran.

2 Assistant Professor of Law, Najafabad Branch, Islamic Azad University, Najafabad, Iran.

10.22099/jls.2024.46327.4870

Abstract

Unlike the theory of localization of arbitration, which emphasizes the territoriality of arbitrations even in the realm of foreign trade, the theory of delocalization in international trade is rooted in the transnational view of arbitration, based on which arbitrators can conduct the arbitration process regardless of the procedural and substantive rules of the seat of arbitration.Based on this theory, arbitration and the award issued in the arbitration process has an international character and for this reason, even if the arbitration award is annulled in the courts of the country where the arbitration is located, it is still possible to recognize and enforce such an award in the country where the award is executed. In addition to the international nature of arbitration awards, the self-regulation feature of the international business community, the lack of appropriateness of domestic laws to manage contracts concluded in foreign trade, the belief in reducing the efficiency of arbitration is due to the involvement of national courts, along with other reasons stated in this research, confirm that the delocalization approach to international commercial arbitration is more appropriate to the conditions of foreign trade and satisfies the needs of businessmen in international trade in a more favorable way.

Keywords

Journal of Legal Studies

Articles in Press, Accepted Manuscript
Available Online from 04 July 2024

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