The arbitration agreement
Arbitration is a method of dispute resolution which is justified by and dependent upon the existence of an agreement between the parties. An agreement to arbitrate may take many different forms. In maritime contracts such as charterparties, the agreement to refer disputes to arbitration is usually contained in a written arbitration clause, often in a standard printed form contract. Usual principles of contract law are relevant to the validity and effect of an arbitration agreement. However, the effect of a London arbitration clause will also be affected by the Arbitration Act 1996 and also by the particular principles of the common law which have developed in relation to arbitration agreements. This should not be regarded as an unacceptable derogation from the parties’ choice: by specifying arbitration in London the parties must be regarded as having impliedly accepted the supplementing provisions of English law, and in particular the 1996 Act. 1
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