2016 | Octubre 26
International contracting parties do not choose London as an arbitral seat because of the UK’s ties with Europe. They choose London for a variety of reasons not least being the pro-arbitration stance of the English & Welsh judiciary (Scotland and Northern Ireland not having been tested to the same extent). The judiciary have shown again and again their support for arbitration and its value as a dispute resolution mechanism of choice. The Arbitration Act 1996, provides a solid basis for both ad-hoc arbitration and as the curial law supporting institutional arbitration in London.
The choice of London as an arbitral seat is often coupled with the choice of English substantive law. This was the case pre the UK joining what is now the EU and there is no reason why it should change post-EU. English contract law is a recognised, global standard and that remains the same.