THE LEGAL NATURE OF ARBITRATION AGREEMENTS AS THE INSTITUTE OF INTERNATIONAL COMMERCIAL ARBITRATION

Abstract

The purpose of this article is to determine the legal nature of arbitration agreements as the instituteof international commercial arbitration based on the study, analysis and structuring of their legal featuresand regulatory aspects of their implementation by the subjects of international commercial activity in Ukraine.The research is grounded on the application of a number of scientific methods, i.e. the elements of logical legal,comparative legal, formal legal, system structural, and documentary analysis. The general direction of the workis determined by the dialectical method, and the normative logical and comparative methods of scientific research were most commonly used by the author. Results. While writing the article, the author found thatthe mutual will of equal subjects of legal relations on submitting all or part of the disputes to arbitration, whichis stipulated in the arbitration agreement, is the basis of international commercial arbitration. Therefore,the arbitration agreement is the basis for establishing the consent of the parties to appeal to the internationalcommercial arbitration court. The validity of the arbitration agreement determines the considerationof disputes by the arbitrators, the subsequent recognition and enforcement of the arbitration award, as wellas the assistance in securing a claim and implementing the other procedural measures. The main formalrequirement for an arbitration agreement is its written form. Conclusions. Therefore, in the author’s opinion,the arbitration agreement, being the institute of international commercial arbitration, can be considereda legal basis for the competence of the international commercial arbitration court. The legal assessmentof the arbitration agreement must take into account the essence of the arbitration agreement as a civil lawtransaction and as a legal fact that proves its dual legal nature. The universal role of the arbitration agreementdetermines strict requirements for its subjects, its object, and its form. During the resolution of internationalcommercial disputes in Ukraine, a valid arbitration agreement must meet the formal requirements prescribedby the legislation; note the necessary admissibility of the dispute as a subject of arbitration proceedings; and besigned by the parties being capable of entering into this agreement and acting as parties to the arbitrationproceedings.