bluuebunny/crossref_metadata_2025_split huggingface dataset:
Powers, Duties, and Jurisdiction of an Arbitral Tribunal
Authors: Blackaby Nigel , Partasides Constantine , Redfern Alan , Hunter Martin 
Published: June 2017

Abstract
This chapter discusses an arbitral tribunal’s different powers, duties, and jurisdiction during arbitration proceedings. These arise from a complex mixture of the will of the parties, the law governing the arbitration agreement, the law of the place of arbitration, and the law of the place where recognition or enforcement of the award is to be sought. Parties confer powers upon the tribunal either directly or indirectly. A direct conferment occurs when the parties agree upon the powers that they wish the arbitrators to exercise, while indirect conferment happens when parties agree that the arbitration is to be conducted under pre-established rules. The chapter then describes the duties of an arbitrator, which may be divided into three categories: duties imposed by the parties; duties imposed by law; and ethical duties. Both the powers and duties comprise a tribunal’s jurisdiction, with the parties determining the extent of its validity.
Conduct of the Proceedings
Authors: Blackaby Nigel , Partasides Constantine , Redfern Alan , Hunter Martin 
Published: June 2017

Abstract
This chapter outlines the conduct of the tribunal and the parties during arbitration proceedings. In general, an arbitral tribunal must conduct the arbitration in accordance with the procedure agreed by the parties. If it fails to do so, the award may be set aside, or refused recognition and enforcement. However, the freedom of the parties to dictate the procedure to be followed in an international arbitration is not unrestricted. The procedure must comply with any mandatory rules and public policy requirements of the law of the juridical seat of the arbitration. It must also take into account the provisions of the international rules on arbitration, such as those of the ICC, which aim to ensure that arbitral proceedings are conducted fairly. Accordingly, a balance must be struck between the parties’ wishes concerning the procedure to be followed and any overriding requirements of the legal regime that governs the arbitration.
Role of National Courts during the Proceedings
Authors: Blackaby Nigel , Partasides Constantine , Redfern Alan , Hunter Martin 
Published: June 2017

Abstract
This chapter examines the role that national courts play at the beginning, during, and end of arbitration proceedings. Arbitration is dependent on the support of the courts, which alone have the power to intercede when one party seeks to sabotage proceedings. This intervention may be possible at the beginning of the arbitral process in the context of the enforcement of the arbitration agreement, the establishment of the tribunal, and challenges to jurisdiction. National courts may also intervene during proceedings: it may be necessary for the arbitral tribunal or a national court to issue orders intended to preserve evidence, to protect assets, or in some other way to maintain the status quo pending the outcome of the arbitration. Under the UNCITRAL Rules and Model Law, such orders are called ‘interim measures’. The chapter also describes how national courts exercise judicial control over the resulting award.
Award
Authors: Blackaby Nigel , Partasides Constantine , Redfern Alan , Hunter Martin 
Published: June 2017

Abstract
This chapter considers the different categories of arbitration award issued by the arbitrary tribunal. The tribunal may be called upon to decide procedural disputes, or to make partial awards that decide issues between parties on a partial or final basis. Under the English Arbitration Act 1996, all awards are ‘final’, in the sense that they dispose ‘finally’ of the issues decided in them, and they are ‘binding’ on the parties. A final award, in this sense, is usually the outcome of arbitral proceedings that have been contested throughout. However, it may embody an agreed settlement between the parties, in which case it is generally known as a ‘consent award’, or an ‘award on agreed terms’. Another category is an award in proceedings in which a party has failed or refused to participate, which type of award is usually described as a ‘default award’.
Introductory Chapter
Authors: Llamzon Aloysius P 
Published: June 2017

Abstract
This introductory chapter sets out the book's two main purposes: first, to study the phenomenon of corruption in international investment, the growing movement under international law to prevent and criminalize such behaviour, and its relationship with international investment law and arbitration; and second, to develop a working framework for investment arbitration decision-making when issues of corruption arise. An overview of the subsequent chapters is also presented.
The Nature of Transnational Corruption
Authors: Llamzon Aloysius P 
Published: June 2017

Abstract
This chapter provides a working definition of transnational corruption, including its history and the elements that constitute the ‘corruption equation’. It then takes a closer look at contemporary corruption by considering two extremes: that of developing States with kleptocratic rulers, and mature industrial democracies. It concludes that in a global environment of contractual uncertainty, corporate actors are under considerable pressure to maintain the economic viability of present and future projects, and ‘the persistence of experienced operators’ in those industries is necessary to produce reasonable returns. In many cases, to help compensate for such uncertainty, corruption is used as a tool to ensure certainty in two areas that may adversely affect their investment: political uncertainty and economic uncertainty.
A Typology of Corruption in Foreign Investment
Authors: Llamzon Aloysius P 
Published: June 2017

Abstract
This chapter categorizes the many modalities of transnational corruption within two groups — transactional and variance bribery. Transaction bribes are payments routinely and often impersonally made to a public official to secure or accelerate the performance of that official's duties. The payment is not made in order to secure the public official's divergence from a substantive norm. Instead, the payment is made simply to ensure that the public official performs his duty more efficiently, hence the term ‘grease money’ or the euphemism ‘facilitation payment’. Variance bribes involve payments made in order to obtain a favourable result through a deviation from the proper application of a norm. The bribe might be paid in order to suspend the operation of a legal prescription, or in order to have a public official exercise his discretion in a manner favourable to the payer.
International Efforts to Combat Corruption in Foreign Investment
Authors: Llamzon Aloysius P 
Published: June 2017

Abstract
This chapter discusses how various actors in the world community have sought to combat transnational corruption. The most important of these actors are, of course, States, and the discussion begins with the efforts of the US through the Foreign Corrupt Practices Act. It then turns to the OECD Anti-Bribery Convention and the various regional instruments inspired by that treaty, culminating in the UN Convention Against Corruption. It considers efforts by multinational companies to institute norms and codes of conduct to guide their foreign investment relationships; and the response of international institutions, particularly the World Bank and international civil society. The chapter ends with an appraisal of the strengths and vagaries of the current regime of international anti-corruption law.
State Responsibility for Corruption
Authors: Llamzon Aloysius P 
Published: June 2017

Abstract
This chapter examines the law on State responsibility for corruption. It argues that the application of the international law on responsibility to transnational corruption issues in investment arbitration should involve bringing States to account for the fulfilment of their national and international anti-corruption obligations, before the issue is allowed to be used for mostly exculpatory reasons. Transnational corruption cannot be combated effectively by focusing and punishing only the foreign investor, which is only one side of the equation. Corruption-plagued states are doomed to repeat the failures of governance that have persisted in their public spheres so long as they are not asked to do more.
Concluding Chapter
Authors: Llamzon Aloysius P 
Published: June 2017

Abstract
This chapter discusses the competing policy goals that vie for supremacy in every decision made by investment arbitrators concerning corruption. It considers all the policies that underpin the system of international investment arbitration — investor protection, good governance, and economic development — vis-à-vis international anti-corruption norms, leading to the proposal of an alternate typology for transnational corruption that may better assist arbitrators in the resolution of difficult corruption-related issues.
Approaching Legal Issues in a Project Finance Transaction
Authors: Fletcher Phillip 
Published: June 2017

Abstract
Although each project has unique characteristics, which may vary depending on such matters as the host jurisdiction and sector,there are legal issues and risks that are common to most projects. The process of assessing those risks and determining whether and how they can be mitigated is central to structuring a successful transaction that will be sufficiently robust to withstand the economic, technical, political, and legal challenges that are likely to arise over the frequently long-term tenor of the project’s debt.This chapter identifies the broad categories of risks that must be considered, and outlines a methodology for doing so. The chapter also introduces a discussion of the unique features of project finance credit and security documents, and of the process required to close complex transactions.
Project Participants and Structures
Authors: Davies Aled , Pendleton Andrew 
Published: June 2017

Abstract
An understanding of the objectives and goals of the key participants (including host governments, private sponsors, advisers, project companies, construction contractors, operators, suppliers, and offtakers) is absolutely critical to the successful negotiation of a project financing. The challenge of structuring a transaction lies in reconciling the different objectives of those interested parties to ensure that each stands to benefit from the project and is therefore committed to its success.The first part of this chapter examines the key participants through the life of a project by addressing the following simple questions: (i) who are they, (ii) what are their roles, and (iii) what are their motivations? The second part gives an overview of the typical ownership structures employed for a project.
Sources of Funding
Authors: Ransome Clive , Dunnett Geoffrey 
Published: June 2017

Abstract
This chapter provides an overview of the various sources of funding, the cost of funding, access to the debt markets, and the considerations of key participants in current market conditions. As the project finance market evolves, new funders and funding techniques emerge. This chapter explores how contractual relationships between the equity participants and debt providers are structured and how risk is allocated between different types of funders. It discusses the role that sponsors, export credit agencies, multilateral agencies, development finance institutions, and commercial banks play in the project finance market. Finally, the chapter considers the role and use of letters of intent, term sheets, commitment letters, and mandate letters, and analyses the key documentation issues of relevance to the market participants.
Project Risks
Authors: Dewar John , Irwin Oliver 
Published: June 2017

Abstract
This chapter considersthe identification, assessment, allocation, negotiation, and management of the risks associated with a particular project(such as delay risk, cost overruns, technology risk, off-take risk, revenue risk, operating risk, supply risk, currency risk, political risk and environmental and social risk). A project’s value is based principally on its ability to generate revenue during its operating phase. Both the sponsors and the lenders need to be able to effectively identify and manage the risks associated with that project. This chapter also identifies how those risks can be managed and minimized. In addition the chapter contains an analysis under English law of the possible impact on risk allocation in a project arising from the effects of any supervening event.
Allocation of Risks in Project Documentation
Authors: Dewar John , Taufatofua Chris 
Published: June 2017

Abstract
Achieving the optimal risk allocation in the project document structure is critical to the successful delivery of any project. This chapter outlines the key considerations that help determine how the project risks are typically approached in the context of the key project documents, including concession agreements, construction contracts, offtake agreements, feedstock supply agreements, and operation and maintenance agreements. Particular focus is given to the need to achieve a project document structure and risk allocation that is ‘bankable’, while emphasizing the importance of a risk allocation that strikes a balance between (i) identifying the most appropriate counterparty to manage a particular risk as well as (ii) ensuring such counterparty is appropriately incentivized to manage such risk.
International Projects—Sector Focus
Authors: Dewar John 
Published: June 2017

Abstract
This chapter describes a number of international projects in various areas: oil and gas; mining projects; conventional power; renewable energy; nuclear power projects; and the infrastructure of public and private partnerships. Oil and gas projects span a broad range of activities from upstream ‘exploration and production’ projects to downstream LNG and petrochemicals projects. The second part of the chapter begins with a brief overview of the current American, UK, French, Japanese, Korean, and Saudi Arabian power markets focusing on current electricity generation mix policies in these markets and the current and future place of conventional power therein. The text then looks at renewable energy projects. These share many of the characteristics of conventional power projects. However, there are certain crucial differences which will impact upon the contractual structure and risk allocation employed in the development of these projects. Nuclear power projects are perhaps the most challenging power/infrastructure projects to develop and finance. The chapter finally provides a discussion of the applicability of project finance principles and disciplines to a unique and challenging segment of the power/infrastructure sector.
Documentation of Project Bonds
Authors: Peterson Tim , Harrow Shoshanna 
Published: June 2017

Abstract
Project bonds issued in the international capital markets are used as a source of, or to refinance, project capital. Project bonds are securities and therefore subject to regulations requiring adequate disclosure for investors and restrictions on where and to whom the bonds may be marketed. Advantages of project bonds as compared to loans include improved operational flexibility and the potential for improved price, size, and tenor. Relative disadvantages include regulatory and credit rating requirements, consent and intercreditor issues, and the inability to have multiple drawdowns. The chapter describes the Rule 144A and Regulation S exemptions from US registration, their attendant selling restrictions, the due diligence process, and typical project bond documentation, including the offering circular, underwriting agreement, and indenture.
Ancillary Finance Documentation
Authors: Benger Philip , Holmes Patrick 
Published: June 2017

Abstract
This chapter begins with a discussion of various financial and other varieties of sponsor support which may be provided to a project, including, among other things, shareholder loans, contractual undertakings intended to mitigate completion risk, and ongoing sponsor commitments, post-completion. It provides an overview of security arrangements, considering particular issues that may arise in foreign jurisdictions or in light of the types of asset being secured, and examines how lenders are afforded ‘step-in’ rights in relation to key project contracts through direct agreements. Finally, the chapter discusses legal opinions and their purpose, with particular focus on issues in relation to those where a project is one of the first of its kind in a particular country.
The Doctrine of Res Judicata Before International Commercial Arbitral Tribunals
Authors: Schaffstein Silja 
Published: June 2017

Abstract
There are currently no rules in international commercial arbitration law and practice assuring the coordination between arbitral awards and/or national court judgments rendered in identical or related cases. This lack of coordination is unsatisfactory, particularly in light of the ever-growing tendency of parties to submit their commercial disputes to international commercial arbitration and the increasing complexity of international arbitration. Today, international commercial transactions and the disputes to which they give rise regularly involve multiple parties, contracts and issues. As a consequence, these disputes (or certain aspects of these disputes) are increasingly tried in multiple fora. In such circumstances, difficult issues regarding the res judicata effects of prior judgments or awards are likely to arise before international commercial arbitral tribunals. The central hypothesis underlying this research is that transnational principles of res judicata should be elaborated for international commercial arbitral tribunals. This solution is justified for several reasons. First, it is justified given the differences among domestic laws regarding res judicata and the difficulties surrounding the formulation of appropriate conflict-of-laws rules. Second, it avoids inappropriate analogies between international arbitration proceedings and litigation. Finally, the solution provides guidance and ensures a certain degree of fairness, certainty and predictability, which is expected by arbitration users. This research seeks to achieve its aims in two stages: Part One examines the doctrine of res judicata in litigation, analysing the doctrine as applied in different domestic laws, as well as in private and public international law. Part Two aims to determine whether and to what extent the res judicata doctrine may be applied by international commercial arbitral tribunals. It aims to demonstrate that transnational principles of res judicata should be elaborated and will seek to formulate such principles.
The Doctrine of Res Judicata in Domestic Laws
Authors: Schaffstein Silja 
Published: June 2017

Abstract
This chapter analyses and compares the application of the res judicata doctrine in common and civil law countries. Res judicata is the principle that a matter may not, generally, be relitigated once it has been judged on the merits. The doctrine of res judicata is well established in common law jurisdictions, and allows for several res judicata pleas, namely the plea of cause of action estoppel, issue estoppel, former recovery, or abuse of process. On the other hand, the doctrine of res judicata in civil law countries recognises only one plea. In France, for instance, the doctrine of res judicata is referred to as ‘autorité de chose jugxée’. A judgment obtains ‘autorité de chose jugée’ when it is rendered, whether or not a means of recourse is available against the judgment.
Res Judicata in International Commercial Arbitration—A Problem
Authors: Schaffstein Silja 
Published: June 2017

Abstract
This chapter addresses problems concerning the doctrine of res judicata in international commercial arbitration. It also asks the following questions: What are the possible consequences of the occurrence of res judicata issues in international commercial arbitration? Expressed differently, what interests are at stake? Duplicative proceedings of res judicata require vast resources. The parties are required to invest considerable amount of time, money, and efforts in proceedings which they already went through, without having any good reason to suppose that the second proceedings will lead to a more accurate decision than the first one. These situations only gave an additional burden on the party who prevailed in the first proceedings. Also, these proceedings create risk of inconsistent decisions. Coexistence of inconsistent decisions could seriously undermine the very existence of the arbitral process.
Search for an Appropriate Approach
Authors: Schaffstein Silja 
Published: June 2017

Abstract
This chapter presents possible approaches in dealing with the problem of the res judicata doctrine in international commercial arbitration, namely the conflict-of-laws approach, comparative law approach, and transnational approach. The conflict-of-laws approach defines clear and generally accepted conflicts-of-law rules allowing arbitrators to determine the law or laws governing res judicata. The determination of conflict-of-laws rules will depend on the characterisation of res judicata as being of substantive or procedural nature. The comparative law approach compares different domestic laws to determine generally accepted res judicata principles common to a majority of states. Lastly, the transnational approach formulates uniform, autonomous res judicata principles that are better adapted to the particularities of international commercial arbitration created for litigation.
International Legal Sources II—the United Nations Security Council Resolutions
Authors: Png Cheong-Ann 
Published: June 2017

Abstract
This chapter looks at the work of the United Nations Security Council, which it states is, in addition to the United Nations conventions, central to global anti-terrorism efforts. The Security Council, as one of the principal organs of the United Nations (UN), is the body that the UN Charter vests with primary responsibility for the maintenance of international peace and security. The chapter looks at the composition and running of the Security Council. Chapter VI of the UN Charter enables the Security Council to take certain measures in situations where the continuation of a dispute is likely to threaten international peace and security. Chapter VII of the UN Charter enables the Security Council to take relatively far-reaching measures that are mandatory obligations for UN members, including the use of force, and it has a fair degree of discretion in the adoption of these measures. The chapter looks at a number of UN Security Council resolutions in detail.
International Legal Sources III—FATF Recommendations
Authors: Png Cheong-Ann 
Published: June 2017

Abstract
This chapter looks at the role and development of the Financial Action Task Force (FAFT). The FAFT was formally established at the G7 Summit in Paris in July 1989 by the Heads of State or Government of the G7 countries and the President of the European Commission. The main concern motivating the establishment of the FATF was the proliferation of drug production and drug-related activities, including the laundering of drug proceeds. The G7 leaders understood that decisive action at the national and international levels would be needed to deal with this concern. The chapter looks at how the FAFT has changed since its founding. Today, the objectives of the FATF are to set the international standard, and promote effective implementation of measures, for combating money laundering, financing of terrorism, and other related threats to the integrity of the international financial system. It works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas. It also monitors the progress of its members in implementing necessary measures.