What, if any, are the legal requirements of an arbitration agreement under the laws of England and Wales?

Arbitration proceedings in England and Wales (and Northern Ireland) are governed by the Arbitration Act 1996 (the “1996 Act”). The 1996 Act applies only to arbitration agreements that are in writing (section 5(1)). Although oral arbitration agreements are recognised at common law, the 1996 Act does not apply to wholly oral arbitration agreements (section 81(1)(b)). Such agreements will not benefit from the default procedures or various other statutory powers conferred on the tribunal under the 1996 Act. Oral arbitration agreements also fall outside the scope of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (the “New York Convention”).