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4 J. Int'l Arb. 45 (1987)
Arbitration Clauses in International Loans

handle is hein.kluwer/jia0004 and id is 333 raw text is: Arbitration Clauses in International Loans Oscar A. RuIz DEL RIo* I. INTRODUCTION International Commercial Arbitration has grown significantly in recent years, in practically all kinds of transactions-in the private and intergovern- mental sectors-conducted across national boundaries. Private institutions from more countries are using it, and more nations as active participants in world trade also resort to it. This growth, which is due as much to the intrinsic advantages of arbitration as to the deficiencies of national court systems, has affected the majority of industries and operations involved in international commerce. Today the number of transnational freight, construction, sales, insurance and even securities contracts containing arbitration provisions is quite notice- able;' moreover, this trend is likely to continue in the coming years. However, one basic element of international trade and economic relations seems to remain alien to this tendency and uses international arbitration only marginally, i.e. international banking contracts, particularly international loans. This has been noticed by everyone involved in international finance: * White and Case, New York. The author wishes to express his gratitude to Prof. Arthur T. von Mehren for his guidance and Messrs. Clifford Hendel and James P. Holden of White and Case for their suggestions and support. 1 October 1983. Statistical information on ICC international arbitration clauses: Foreign Trade 37.30% *Financing 7. 1o% Construction 17. 16% Agency 5.97% Ind. Cooperation 9.70% Joint ventures 2.99% Licensing 8.5o% Others t1.20% Total soo% * This is a broad category that includes brokerage contracts. Copyright © 2007 by Kluwer Law International. All rights reserved. No claim asserted to original government works.

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