London Court of International Arbitration

The London Court of International Arbitration (International Schiedsgerichthof London, LCIA ) is a London-based institution of international arbitration. The LCIA can be called by all parties, regardless of the location of the branch or the legal system.

Although the emphasis is on conciliation and arbitration provision of a formal Court, the LCIA is also active in mediation.

History

The history of the LCIA began on 5 April 1883, when the Court of Common Council of the City of London founded a committee to develop ideas for the establishment of a tribunal for the settlement of domestic and transnational trade disputes within the limits of the city.

In a somewhat exuberant contribution in the Law Quarterly Review, the establishment of the Court as a " chamber, which seems to have all the advantages that lacks the law was. It's fast, where the law is slow, cheap where the law where the law is expensive and simple, technical, a peacemaker rather than an instigator to squabble. "

The plan was submitted in 1884 under collaboration with the London Chamber of Commerce, however, until the adoption of the English Arbitration Act of 1889, the plans were shelved. In April 1891, the draft was adopted, and named The City of London Chamber of Arbitration.

In April 1903 it was renamed the London Court of Arbitration and 1981 in The London Court of International Arbitration, in order to emphasize the international character of the organization.

Current activities

The LCIA is one of the largest arbitration organizations at international level today. The procedures and rules will be announced publicly and used in ad hoc arbitrations in which the LCIA is not represented itself.

The LCIA is registered as a non-profit limited company under English law. The Board of Directors consists mainly of well-known London-based practitioners dispute settlement and determines the activity and development of the business and compliance with applicable law. However, the Board takes no active role in mediation.

The LCIA Court is the highest authority for the correct application of the LCIA Rules. It plays a key role in the appointment of tribunals, in the invocation of arbitrators and control costs.

Although the LCIA Court meets regularly to plenary sessions, there is the direct exercise of the function by the President, the Vice - President or a department of the court.

The Court is composed of up to 35 members who are selected so that they represent the leading world trade centers and not more than six members may have English nationality.