EX AEQUO ET BONO – THE WAY TO REDUCE TIME AND COST IN ARBITRATION
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Abstract
This article analyses the regulation of commercial arbitration and the ex aequo et bono principle. The arbitration community is concerned regarding the judicialisation of commercial arbitration. This article analyses the judicialisation of commercial arbitration and the problems arising from it. In addition, it examines examples of the judicialisation of commercial arbitration and the negative consequences arising from it – such as increases in cost and time, reduced flexibility, and reduced party autonomy. Furthermore, the concept of ex aequo et bono is presented, along with an analysis of how it can reduce time and cost in arbitration. Moreover, criticisms of ex aequo et bono, such as the notion that arbitrators may abuse their discretion and the unpredictability of awards may increase, are examined and analysed in terms of their validity.
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Articles
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Authors retain copyright of their work, with first publication rights granted to the Association for Learning Technology.
Please see Copyright and Licence Agreement for further details.
