What Is Arbitration Agreement Assignment

In other jurisdictions, the corporate veil was lifted under arbitration in the so-called « corporate group » doctrine following the ICC`s decision in dow Chemical v. Isover Saint Gobain, which was later approved by the Paris Court of Appeal. One of the characteristics of the claim in the present case was that the third-party parent company was effectively and individually involved in the conclusion, performance and termination of the relevant contract containing the arbitration agreement. The doctrine has been applied in cases involving arbitration in Singapore, Egypt, Brazil and Switzerland. Arbitration is a voluntary alternative dispute resolution procedure through a private forum chosen by the parties. It can be roughly divided into three phases, the first before arbitration (before the time the dispute arises), the second during arbitration, and the last after the award is made. The arbitration is consensual and the arbitration agreement waives a party`s right to rely on the jurisdiction of courts having other jurisdiction in favor of the arbitration. The benefit of contracts may be transferred for various reasons as loan guarantees, as part of a restructuring or business acquisition, or to settle a claim. A common question that arises is whether this binds the assignee to an arbitration clause contained in the contract and what rights are transferred to him since he was not an original party to the contract. CM challenged that decision under Article 67 of the AA 1996 on the ground that that decision was erroneous and that ING Bank was not a party to the arbitration agreement. CM applied under Article 67 because it indicated that this was a matter that extended to the jurisdiction of arbitrators to make an arbitral award against ING Bank.