International Arbitration is a method of dispute settlement of international commercial transactions. UNCITRAL has prepared model law and convention which is for legal certainty and facilitation of trade. International Commercial Arbitration has been ...
International Arbitration is a method of dispute settlement of international commercial transactions. UNCITRAL has prepared model law and convention which is for legal certainty and facilitation of trade. International Commercial Arbitration has been adapted Model law on International Commercial Arbitration 1985(hereinafter Model law) which is a standard arbitration process in international dispute areas as a useful tools. Over 50 countries are accepted or enacted this model law for their national arbitration law. Korea also entirely adapted its articles and revised national arbitration law in 1999.
Interim measures of protection which is uncertain article in the model law is a useful area to considerate future work for increasing the use of international arbitration.
Interim measures of protection aimed at facilitating the conduct of arbitral proceedings by ordering for a party to measure or restore the evidence or asset concerned and also to avoid loss or damage and preserving a certain state of affairs until the dispute is resolved. In addition to facilitate later enforcement of the arbitration awards by interim measures of protection.
Model law allow the arbitral tribunals to grant interim measures of protection. Article 17 of Model law, however, is lacking of its enforcement ordering by arbitral tribunals in international arbitration. To review and alter the interim measure ordered by an arbitral tribunal UNCITRAL Working Group are preparing the revised draft article 17 and new article related as a possible work topics.
In this paper we study on the interim measures of protection of temporary nature accordingly and recognize the draft articles to prepare for new revised articles near future.