A Thesis Submitted in partial fulfillment of the Requirements f the Degree of master of Laws, University of Religions and Denomination, Qum, Iran.
- Author:
- SAFAA ASMEER JASIM AL-MUSAWI
- Level:
- Master
- Field of study:
- Low
- Language:
- Arabic
- Faculty:
- Faculty of Law
- Year:
- 2021
- Publisher:
- URD Press
- Supervisor(s):
- Mohammad Rasool Ahangaran
Arbitration is independent from other petroleum contract terms. This independency implies special procedural and legal aspects that are organized by arbitration agreement. Arbitration clause is a procedural clause in petroleum contracts since it is the most appropriate method to settle disputes whether they emerge at the time of the execution of the contract or in the future. Thus, Arbitration is independent from other contract terms.
In the event of dispute in the contract, the first steps taken by the parties of the agreement shall be the formation of the arbitration commission by selecting the arbitrators who are assigned to manage the arbitration commission. Thereafter, the parties shall agree on the procedures and the rules that arbitration commission shall follow. The arbitration procedures shall end with the issuance of a judgment of the arbitration in the presented dispute. Lastly, the arbitration judgment shall be either executed after its ratification by the competent courts or shall be appealed.
The petroleum wealth is the main pillar of the economy of the petroleum producing countries. The petroleum relationships require sophisticated legislation that keeps pace with this development to preserve, and not to waste them by granting them to investment companies on long-term contracts, such as concessions, for instance. Arbitration is the most prominent and effective way to settle all disputes, including petroleum contract disputes. However, we note that Iraq, for instance, lacks a developed law that regulates the protection of natural wealth and not to waste them to protect the rights of future generations.
We note that the concept of arbitration system has evolved in terms of its formation, the procedures used in it, the applicable law, how to implement and appeal the arbitration judgment, and the limits of judicial oversight. Moreover, there is a second arbitration commission in force in France, which is agreed on its formation and the limits of its work by the parties of the agreement themselves, where its task is to monitor the first arbitration commission. It is called in France the Appellate Body, provided that its members are new and selected by the agreement parties themselves. it is not permissible to the members of the first body to be members of the second body. This shall not prevent the parties from resorting to the judiciary to appeal decisions of arbitration commission, whether the first commission or the second.