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GLOSSARY

Arbitration agreement definition

What does Arbitration agreement mean?

An arbitration agreement is a bilateral contract between the parties to the main contract, appointing an arbitrator who becomes a third party to the arbitration agreement.

The arbitration agreement is a bilateral contract, which becomes a trilateral agreement with the appointment of the arbitrator, (Sir Nicholas Browne Wilkinson V-C [1991] 3 All ER 211 at 228, [1992] QB 863 at 885, citing Cie Europeene de Cereales SA v Tradax Export SA [1986] 2 Lloyd's Rep 301). Under that trilateral contract, the arbitrator undertakes his quasi-judicial functions in consideration of the parties agreeing to pay him remuneration. By accepting appointment, the arbitrator assumes the status of a quasi-judicial adjudicator, together with all the duties and disabilities inherent in that status.

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An arbitration agreement is a bilateral contract between the parties to the main contract, appointing an arbitrator who becomes a third party to the arbitration agreement.
The arbitration agreement is a bilateral contract, which becomes a trilateral agreement with the appointment of the arbitrator, (Sir Nicholas Browne Wilkinson V-C [1991] 3 All ER 211 at 228,

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