Arbitral Procedures Sample Clauses
Arbitral Procedures. The arbitrator shall receive and consider material evidence and argument as the parties may offer, and where agreed to, may make independent investigations as it deems necessary. The arbitrator shall be governed by the provisions of this agreement and is not vested with the power to change, modify or alter the terms of the collective agreement.
Arbitral Procedures. A good Banking Arbitration Agreement must regulate the arbitral proceedings, i.e. the detailed rules that apply to the procedures of the dispute, from the time of submission of application until the issuance of the award. 1 The procedures followed by arbitrators differ by the type of arbitration. In other words, the arbitral procedures differ depending on whether the selected arbitration is an ad hoc arbitration or institutional arbitration. Regarding to institutional arbitration, when the parties select a specific institution to run the arbitral process, the pre-established regulations of such institution apply with force of law. Therefore, there would be no problem because, by selecting a specific institution, this means that the parties have agreed to implement its regulations relating to the arbitral procedures. With respect to ad hoc arbitration, the parties may choose between two solutions: First: they may themselves identify the necessary procedures and let the arbitrators decided on the other procedures; or Second: they may select the procedures established by either a national law or a permanent arbitration institution.