International Arbitration Tribunal
It is an independent non-governmental panel of independent and impartial experts.
It generally comprises of three members nominated by the Parties (or appointed by the International Arbitration Institution, or by a National Court) on the basis of their legal and practical expertise and knowledge, to render a final and binding award.
💠 Permanent Court of Arbitration
Established in: 1899.
HQ: Hague, Netherlands.
Purpose: It is an intergovernmental organization dedicated to serve the international community in the field of dispute resolution and to facilitate arbitration and other forms of dispute resolution between States.
Structure: The PCA has a three-part organizational structure consisting of:
Administrative Council- to oversee its policies and budgets,
Members of the Court- a panel of independent potential arbitrators, and
International Bureau- its Secretariat, headed by the Secretary-General.
Funds:
It has Financial Assistance Fund which aims at helping developing countries meet part of the costs involved in international arbitration or other means of dispute settlement offered by the PCA.
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