International Chamber of Commerce (ICC)
ICC Arbitration focuses on resolving business disputes that involve international issues. These arbitrations are flexible, and allow the parties to have confidential procedures. Likewise, ICC Arbitration offers to the parties the choice of a neutral arbitral tribunal, a place of arbitration, rules of law, and language of the proceeding. There are numerous mechanisms for dispute resolution which end up in a decision of the tribunal. This decision, called an award, is generally obeyed by the losing side of its own free will. However, there can be parties that do not agree with a tribunal’s award. In this case, the award can be enforced in more than 145 countries around the world under both domestic and international enforcement regimes. On January 1, 2012, the current ICC rules of arbitration were established, and they can be found in 11 languages now. Clauses are also available in 11 languages.
London Court of International Arbitration (LCIA)
Being one of the oldest arbitral institutions, it was established in 1892, The London Court of International Arbitration has also gained extensive arbitral recognition. Though its headquarters are in London, it can administrate all sorts of commercial disputes around the world. The LCIA has its own group of arbitrators, but parties can nominate their own ones freely. In 1985, The LCIA created an Arbitration Court which is the final authority for the proper application of the LCIA Rules. Its 35 members are in charge of the appointment of tribunals, the determination of challenges to arbitrators, and the costs control. The LCIA Arbitration Rules can be used in a vast ambit of commercial disputes, domestically and internationally, and are covered by any system of law. They were also designed to stimulate flexibility, efficiency, and cost control. The London Court does not make public the awards. The LCIA Arbitration Rules can be found in English and Russian. Furthermore, UNCITRAL (United Nations Commission on International Trade Law) has made the London Court the appointing authority and administrator for its rules cases.
Created in 1917, the Arbitration Institute of the SCC is one of oldest arbitral institutions for trade disputes. Even it is part of the Stockholm Chamber of Commerce, it works independently. In the 1970's, it was recognized by the United States and the Soviet Union as a neutral institution to resolve any commercial disputes between the East and the West. Throughout the years, the SCC has extensively increased its affiliations with more than 40 countries where it arbitrates commercial disputes. However, The SCC does not have the authority to decide, its functions are to administrate domestic and international disputes according to the SCC’s rules, or to other rules agreed by the parties, for example the Arbitration Rules of the UNCITRAL, and to provide information regarding arbitration issues. Nowadays, it is one of the most recognized and used arbitral institutions around the world which Arbitration Rules are available in four languages.
Inter-American Commercial Arbitration Commission (IACAC)
The Inter-American Commercial Arbitration Commission was established in 1934 as an incentive to the Latin American System for Commercial Arbitration. The IACAC is a private organization which function is to preserve an Inter American system that conciliates, arbitrates and settles any international trade disputes throughout the western hemisphere. In this hemisphere, the commission has National Sections or Representatives in almost all countries. In countries where this National Section or Representative does not exist, the Commission acts as one. As a way to stimulate the commission system, the IACAC makes efforts to attain the ratification of the member countries of the Inter-American Convention on International Commercial Arbitration and the U.N.
The American Arbitration Association
Created in 1926 to administrate the resolution of commercial conflicts without Civil Court proceedings, the American Arbitration Association is a private, nonprofit organization that has a current great preeminence in trade disputes resolutions worldwide. The AAA created the International Centre for Dispute Resolution (ICDR) to arbitrate and mediate in international cases of commercial disagreements. Some of their duties are to assist the parties in the appointment of mediators and arbitrators, setting hearings, and providing users with information on dispute resolution options, including settlement through mediation. These services are made to achieve a fair and impartial dispute resolution. In 2007, the American Arbitration Association was a co-founder, and currently a board member, of the International Mediation Institute (based in the Netherlands), promoting with this action the use of mediation worldwide.