Unreasonable Issuing Bank
Posted: Fri Nov 23, 2001 12:00 am
Thanks, T. O. for your extensive description of DOCDEX. In your opinion, if the parties agree that a DOCDEX decision be legally binding, would this constitute arbitration ?
Dear Laurence,
AUTOMATIC ANSWERS TO YOUR QUERY IN OUR MENTIONED ARTICLE
As we have said, there are many areas that the DOCDEX are different from an arbitration. Please read the article I have recommended before you raise further queries. You may get the answers there automatically after understanding what are the special features of an arbitration and comparing them with the related DOCDEX Articles.
OTHER NUMEROUS DIFFERENCES BETWEEN DOCDEX AND ARBITRATION
Just to satisfy your curiocity,
(1) The DOCDEX does not deal with verbal evidences whilst an arbitration would.
(2) In arbitration, parties may appoint their arbitrator(s), but the DOCDEX experts are all appointed by ICC and they are Batmen too (doing good deeds without revealing their identities).
(3) In arbitration, the decision of the arbitrators are final, without the need to be screened or commented by a Technical Adviser like in the DOCDEX Decision.
(4) There are numerous other differences that we can cover here without being blamed for lecturing.
http://ww.tolee.com
[edited 11/23/01 7:43:20 PM]