Arbitration Law in Iraq - 617 Words

Some items relating to arbitration are found in the Iraqi law. This means that the Iraqi law has considered arbitration as an important method for resolving trade and investment disputes. Because it has found that arbitration has many advantages in resolving the disputes outside the national courts. For instance : Code of Civil Procedures articles (251-276) No. 83 of 1969, amended, and the Foreign Investment Law No. 13 of 2006, and the Terms of Reference approved by the Law of Specialized Commercial and Industrial Chambers And other legal texts in Iraqi law about arbitration Indicate the importance of arbitration. In law No. 34 of 1928, the Iraqi legal system was defined in international commercial arbitration , containing the ratification of the protocol on the terms of the arbitration, signed in Geneva on September 24, 1923, known as (the protocol on arbitration clauses.). The protocol called for the validity of agreements concluded among contracting states through resolving t rade differences by arbitration, adhering to the will of parties and the laws of the state where arbitration is conducted, and committing each contracting State to the implementation of arbitral decisions in their territories, by their staff, and under their national laws , and this may be conducted inside Iraq. Furthermore, silence by the Iraqi judiciary concerning the general principles enshrined in the Geneva Protocol of 1923 cannot be interpreted as an acceptance becauseShow MoreRelatedImplementation of the Provisions of the Foreign Arbitration1082 Words   |  4 Pages1 Implementation of the Provisions of the Foreign Arbitration In many states laws are controlling the issue of implementation of the arbitral awards which are issued in that state. 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