THE IMPORTANCE OF INTERNATIONAL COMMERCIAL ARBITRATION AND IT?S ROLE IN THE DEVELOPMENT OF LAWS IN THE ARAB WORLD

Abstract

It has become a common practice to draw attention to the issue of new legislations to meet the needs of society as well as the development of laws over time. This development is also valid for arbitration, which has not been an obstacle to the deep developments and transformations that took place at the international trade table since the beginning of this century, especially after the Second World War, and accompanied by a very important development. In this article, we will explain; the situation and importance of arbitration in the world, its important position in the field of domestic and foreign trade, the advantages of arbitration, the most important definitions that developed for international commercial arbitration and the features that distinguish it from other resolution methods. We will also discuss the most important global and regional agreements that has been created to set specific rules on international commercial arbitration, where arbitration is at in the public and regulation of today's Arab countries, what these laws are and how they are applied.