Amendments To Arbitration Agreement

At present, Article 9A of the ILO provides for a standard procedure for the appointment of three arbitrators: each party appoints a co-arbitrator and the parties appoint the third arbitrator by agreement or, if no agreement is reached within thirty days, the scoring authority appoints the third arbitrator. Section 9A closely follows Article 11(3)(a) of the Model Law on International Commercial Arbitration (1985, as amended in 2006). However, this standard procedure applies only to situations involving a single plaintiff and a single defendant. It is not expected that several applicants and/or several defendants will not be able to agree among themselves on a single co-arbitrator. Originally, the law provided that an IAP to manage corporate disputes had to adopt specific rules that had to be filed with the Ministry of Justice.