International Commercial Arbitration in the United States: Considering Whether to Adopt UNCITRAL’s Model Law
This Note will explore some of the areas overlooked by the Committee, including the benefits and burdens which adopting the Model Law would involve. Part One briefly describes the Model Law’s background and provides a summary of its articles. Part Two discusses some factors that should be considered when Congress decides whether or not to adopt the Model Law. Part Three summarizes the present status of international commercial arbitration law in the United States, and recommends en bloc adoption of the Model Law. Enacting a separate international arbitration law that is familiar to foreigners will facilitate arbitration with U.S. parties. Additionally, parties will be able to draft international arbitration agreements more competently. As a result, arbitration will better serve its function as an efficient alternative to litigation. Part Four follows with a discussion of the Committee’s analysis and recommendations. Part Five analyzes the Model Law articles in light of the criteria used by the Committee in its rejection of certain provisions. Part Six provides a reason for rejecting the Model Law which, alternatively, is not based upon its internal flaws.