To What Extent Does SIAC's Proposal On Cross-Institution Consolidation Protocol Mitigate The Perceived Weakness Of Arbitrations In Effectively Resolving Multi-Party, Multi-Contract Disputes?

Introduction

The contemporary commercial age is witnessing a surge of complex intertwined transactions. Identical parties may perform different roles under a single contract having multiple layers or under multiple contracts. Conversely, multiple parties may play varying roles under multiple contracts. Such multi-dimensional and interdependent contracts are prevalent in industries involving execution of large projects, such as maritime and construction. These related contracts and legal relationships present a complex mesh of issues on several fronts such as performance of contracts, rights and liabilities of parties, and dispute resolution.

As much as business projects frequently work under the umbrella of a parent agreement or in sync with ancillary agreements - tending towards consolidated performance, divergent dispute resolution clauses in related contracts can disrupt the contractual equilibrium and hamper consolidation of disputes. Distinct