Arbitral Adjudication: A Comparative Assessment of Its Remedial and Substantive Status in Transnational Commerce - Chapter 7 - Carbonneau on International Arbitration: Collected EssaysThomas E. Carbonneau
Thomas Carbonneau is the Samuel P. Orlando Distinguished Professor of Law at Penn State's Dickinson School of Law. Professor Carbonneau is commonly regarded as one of the world's leading experts on domestic and international arbitration. He serves on the editorial board of La Revue de L'Arbitrage and is the author of ten highly acclaimed books and 75 scholarly and professional articles on arbitration. Professor Carbonneau was formerly the Moise S. Steeg Jr. Professor of International Law at Tulane University School of Law.
With the growth of international trade, arbitration has emerged as the preferred remedy for disputes in private international commerce. Its adjudicatory features respond well to the sui generis dispute resolution needs of international commercial contracts.2 Most significantly, an arbitration agreement acts as an elaborate choice-offorum clause. It allows the parties to satisfy their need for a predictable and effective dispute resolution process by creating a more realistic and workable framework that suersedes the fundamentally parochial alternative proffered by national legal systems.3 The party autonomy principle that underlies arbitration gives the contracting parties the power to fashion a remedial process tailored to their specific needs, limited only by fundamental public policy concerns.4