Hamid Reza Olomiyazdi; Yasaman Azadi
Volume 3, Issue 11 , June 2015, , Pages 121-148
Abstract
“Terms of Reference” is one of the important documents that should beproduced in some international arbitration. There are various views regardingthe question of whether the terms of reference is a new arbitration agreement oris just a procedural requirement in the process of arbitration. ...
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“Terms of Reference” is one of the important documents that should beproduced in some international arbitration. There are various views regardingthe question of whether the terms of reference is a new arbitration agreement oris just a procedural requirement in the process of arbitration. However, it is aseparate document which differs from the arbitration agreement. Terms ofreferences is commonly known as a feature of arbitration Under InternationalChamber of Commerce Rules of Arbitration and could also be seen in someother arbitration rules. According to ICC Arbitration Rules, it is compulsory forthe parties and the arbitral tribunal to set the Terms of Reference, but undersome other arbitration rules, such as Japan Arbitration Association, it isoptional. Terms of references should be prepared and signed by the parties andarbitrators as soon as the file is handed over to the arbitral tribunal. The mainfunction of this document is to determine the issues on which the arbitraltribunal should concentrate during the arbitral proceeding. This paper examinescontent and legal status of Terms of reference in commercial arbitration andconcludes that the Terms of References could, to a great extent, facilitate andincrease efficiency and accuracy in both institutional and ad hoc arbitration
