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CHAPTER 2 Theory

Practice of International Commercial Arbitration: A Handbook for Hong Kong Arbitrators

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This chapter will consider three different theories purporting to explain what gives validity to an arbitral award. It will do so by summarizing Professor Emmanuel Gaillard’s seminal 2008 Hague Academy of International Law lecture1 on the philosophical aspects of international arbitration and by teasing out the implications of Professor Gaillard’s account on the conduct of international commercial arbitrations.

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