International Commercial Arbitration: Impedements to the Development of Commercial Law?

Despite the fact that arbitration might divert cases from litigation, courts and arbitration are deemed to be mutually beneficial and cross-fertilizing. Finality and confidentiality are the most controversial areas in which potential impediments to the development of law might be found. This article submits that finality of arbitral award would not be a real impediment when courts remain in a supervisory role with a light touching hand. However, the impediment brought by confidentiality is real. It would certainly be a desirable move when more sunshine is allowed into arbitration. The benefit is threefold: (a) it would enable clients to be properly advised; (b) it would help foster better decision-making by arbitral tribunals; and (c) it would contribute, rather than create impediments, to the development of commercial law.