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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*
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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