London Court of International Arbitration

London Court Of International Arbitration

London Court of International Arbitration

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Description:
The London Court of International Arbitration (which now goes by the name of its acronym LCIA) is an institution based in London, United Kingdom providing the service of international arbitration.

The administrative headquarters of the LCIA are merely based in London. LCIA is an international institution, and is generally regarded as the leading global forum for dispute resolution proceedings for all parties, irrespective of their location or system of law. Although arbitration and the provisional of formal arbitration tribunals are the institution's main focus, the LCIA is also active in mediation, a form of alternative dispute resolution (ADR).

History

On 5 April 1883, the Court of Common Council of the City of London set up a committee to draw up proposals for the establishment of a tribunal for the arbitration of domestic and, in particular, of trans-national commercial disputes arising within the ambit of the City.

The Law Quarterly Review wrote at the inauguration of the tribunal "his Chamber is to have all the virtues which the law lacks. It is to be expeditious where the law is slow, cheap where the law is costly, simple where the law is technical, a peacemaker instead of a stirrer-up of strife."

In 1884, the committee submitted its plan for a tribunal that would be administered by the City of London Corporation, with the co-operation of the London Chamber of Commerce & Industry. However, though the plan had arisen out of an identified and urgent...
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