International arbitration clauses are frequently referred to as ""midnight clauses"" which are negotiated at the last minute after all the commercial terms are agreed or not negotiated at all and simply cut and pasted from a prior agreement. However, the language in those clauses can have real and far-reaching consequences once a dispute arises. Selection of the governing rules, the arbitrator selection process, language, locale, seat of arbitration, governing law, fee-shifting provisions, disclosure requirements and other provisions each have significant consequences when a dispute goes live. Indeed, the wrong decision can dramatically increase the costs of disputes, disrupt the proceedings themselves and/or jeopardize the enforceability of an award. It is one thing to discuss the drafting of these clauses as an academic exercise, it is another to see how the decisions made at midnight can determine whether high-dollar disputes can be appropriately resolved. This panel of speakers, each with significant experience in international arbitration, will describe the impact of each of these considerations on real-life disputes. The panel will also recommend, in their experience, the real-world implications which must be weighed in developing an arbitration clause which best suits the party and the project.
Upon completion of this session, participants will be able to:
- Understand how the real effects of the provisions in an international arbitration clause can impact the conduct and outcome of their disputes.
- Receive recommendations regarding the provisions in an international arbitration clause to consider depending upon how the party is situated and the needs of the project
- Understand the impact of each of these international arbitration considerations on real-life disputes.