In November 2013 the American Arbitration Association (AAA) issued its new Optional Appellate Arbitration Rules, which afford parties the ability to appeal arbitral awards to specialised appellate tribunals. The appellate rules are significant for international arbitration practitioners because they offer an arbitral structure–outside of judicial enforcement regimes–for reviewing awards alleged to suffer from serious factual or legal defects.
Finality and US judicial trend supporting it -
Finality is often cited as one of the advantages of arbitration as a dispute resolution mechanism. Indeed, as commentators have noted, "anecdotal evidence and empirical research indicate that business users generally consider the efficiency and finality of arbitral procedures favorably, even at the expense of foregoing appellate rights".
Originally published in ILO - January 30, 2014.
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