1. INTRODUCTION
Arbitration is a specially designed legal process that produces
a final and binding judgment on conflicts by prioritizing party
autonomy. International arbitration has become a widely embraced
method for resolving commercial disputes over the last thirty
years. Behind this popularity, it is not a secret that
globalization of business has played a big part by integrating
national fora on economic, social and cultural grounds. Such
developments paved the way for a rapid growth of the global economy
which necessitated the utilization of an independent, neutral and
tailored mechanism to deal with multifarious cross-border disputes.
For this reason, arbitration, due to its important advantages i.e.
confidentiality, flexibility, finality, avoiding national courts,
enforceability of awards and speed, has strengthened its position.
Importantly, well-established international and domestic
instruments have built an intercontinental legal framework in which
many
