II Trust Arbitration at the Institutional Level, 5 Institutional Approaches to Trust Arbitration: Comparing the AAA, ACTEC, ICC, and DIS Trust Arbitration Regimes
Edited By: SI Strong, Tony Molloy (Consultant Editor)
- Arbitrability — Arbitral agreements — Arbitral tribunals — Arbitrators
This chapter compares four different institutional approaches to internal trust arbitration: the American Arbitration Association (AAA) Wills and Trusts Arbitration Rules, the American College of Trust and Estate Counsel’s (ACTEC) proposed model statutes and arbitration provisions, a model trust arbitration clause promulgated by the International Chamber of Commerce (ICC) in 2008, and a specialized arbitral procedure created by the Deutsche Institution für Schiedsgerichtsbarkeit (DIS) in 2009. It analyses each of these approaches in terms of enforceability and procedural incentives so as to determine whether each or any of the four procedures provides parties with sufficient reason to choose that mechanism over other options. The chapter concludes with an overall analysis of the advantages and disadvantages of the four institutional approaches to internal trust arbitration.