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| | ASIL Electronic Resource Guide |
 | | An institutional arbitration is one that is entrusted to one of the major arbitration institutions to handle, while an ad hoc one is conducted independently without such an organization and according to the rules specified by the parties and their attorneys. |
 | | For example, the International Court of Arbitration (ICA) (http://www.iccwbo.org) decides on the number of arbitrators and their fees, appoints the arbitrators, ensures that the arbitration is being conducted according to International Chamber of Commerce Rules, determines the place of arbitration, sets time limits, and reviews arbitral awards. |
 | | A distinction is often made in a nation‘s laws between domestic arbitrations, in which states tend to maintain a firmer hand through the court systems, and international arbitration, in which actors engaging sophisticated commercial transactions are freer to agree upon their own rules. |
| www.asil.org /resource/arb1.htm (7084 words) |
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