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Cardozo Journal of Conflict Resolution

Abstract

International commercial arbitration (ICA) has risen to prominence over the past several decades as the most efficient and effective mechanism for resolving cross-border disputes between commercial entities, and has long been considered by the international business community as "the normal means of settling disputes arising from international transactions." ICA offers disputing parties an accessible, neutral, and private mechanism that is distinct from any specific national legal system; a "kind of social jurisdiction, opposed to State jurisdiction." It has thus been considered by some to constitute a specialized international regime, a form of "transnational" or "global" governance, or an autonomous legal order.

Part II of this Article will discuss the two interrelated rationales for this new role of the ICA legal order: first, the dispute resolution lacuna that exists with respect to commercial disputes between parties from rival states and its effect on cross-border trade, and second, the potential impact of improved bilateral trade on interstate political cooperation and peaceful relations. Part III will examine the concept of ICA as an autonomous legal order and the particulars of its proposed "commercial peacemaking" role, and Part IV will analyze this role in the context of the Jerusalem Arbitration Center and the North-South Korea Commercial Arbitration Committee. Finally, Part V will consider the potential application of the new role of the ICA legal order to India and Pakistan, and Part VI will offer conclusions.

Disciplines

Commercial Law | Dispute Resolution and Arbitration | International Law | International Trade Law | Law

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