2.01 This chapter describes the evolution of arbitration and its consensual nature. Consent is the controlling factor of jurisdiction in international arbitration. Consent not only establishes jurisdiction, but it also determines its extent. Therefore, not surprisingly, the consensual nature has been seen as one of the distinctive features of arbitration. However, with the growing acceptance of arbitration as a dispute resolution mechanism the concept and the consensual nature of arbitration have evolved over time. Nowadays the acceptance of the use of arbitration...
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