Contemporary Vision of International Rules on Electronic Arbitration in Dispute Resolution

Abstract

Electronic arbitration and the resulting electronic decisions are among the most important modern means of resolving disputes between the parties to the contractual relationship. Since the electronic arbitration decision rendered by the arbitrator or arbitration body is made electronically (either in writing or by signature), it requires the availability of the legal rules for its regulation. However, majority of the rules are in the legislation of the various countries of the world. It is obliged to lose party in this decision to implement judicial commitment or by alternative means dealt by the traditional legal systems. These aspects highlighted the need of focusing on the effectiveness of the electronic arbitration decision that is the subject of present study. The study focuses on global and intangible nature of electronic commerce, where there is no specific place. A special law is required to ensure the legal security sought by entrepreneurs.