Arbitration of Banking & Finance Conflicts

by Oleg M. Krainsky

Throughout the last few years arbitration practice has been marked by the introduction of an entirely new category of conflicts for consideration — financial conflicts. For a variety of reasons briefly discussed below banks, the traditional adherents of litigation, turned to find arbitration a preferable means for resolving their business disputes. This contribution seeks to examine, to what extent was the substantial law of international arbitration influenced by this development. It proceeds to compare the issues that a bank’s counsel is advised to pay attention to while drafting an arbitration agreement with the issues usually emphasised in general commercial practice...