September 08, 2021 - No Comments!

A Procedural Agreement Definition

The nature of the arbitration agreement in most legal systems (at least in legal systems other than the common law) is somewhat unclear. At present, it is not possible to make decisive statements on the correct theory alone. On the other hand, it is necessary to examine any arbitration agreement invoked by the parties at the beginning of the proceedings and to choose one of the above-mentioned current theories. The classification of the arbitration agreement may be the decisive element in the definition of the rules applicable to the arbitration agreement, i.e. the rules of procedure or matter. In civil law, arbitration proceedings can be defined as procedural agreements in the broad sense, which not only have procedural effects, but which are of considerable importance for the qualitative assessment of the material contractual relationship between the parties. Despite the mixed nature of arbitration agreements (as well as of all award agreements), jurisdiction is, in civil tradition, a category of procedure and not a category of substance, and jurisdiction remains the procedural condition (procedural requirement). The decision on jurisdiction in partial arbitration proceedings is contrary to the concept of jurisdiction as a category of proceedings, but an interim arbitral award may be used for such decisions. However, judicial decisions taken in the context of arbitration proceedings are not substantive decisions and do not have the effect of res judicata. Some civil courts, which fully correspond to the concept of jurisdiction as a category of proceedings, therefore refuse to set aside the attributions of jurisdiction made before the grant of arbitral awards on the merits of the dispute. Since it has a civil dimension in arbitration, it can pose serious problems for the parties if the arbitral tribunal decides jurisdiction by a separate court.

Upon receipt of the instructions, the depositary enters into a margin term procedural agreement between the fund concerned, the depositary and the designated term commission trader (a “procedure agreement”). For the purposes of this Agreement, a “procedural agreement” is a procedural agreement concerning options, swaps (including caps, floors and other similar agreements), futures, futures or obligations of the fund in which the fund, the depositary and a third party participate. Yearbook of International Arbitration, pp. 21-50, M. Roth, M. Giestlinger, ed., Intersentia / DIKE / NWV, Vienna-Graz, 2012 Subscribe to this paid journal for further articles on the subject. Jel Classification: K10, K12, K19, K30, K33, K39, K40, K41, K49 Law & Society: International &Law eJournal. Subject to the standards of care set out in Article V, the depositary shall not be responsible for the sufficient quality of the assets held in such a Margin account, established and maintained in accordance with the appropriate instructions or instructions of a third party duly given under a procedural agreement, or for the performance of the obligations of the Fund or a third party arising from a procedural agreement. . In the absence of proper instructions, the depositary may only release assets from a separate margin term account in accordance with the provisions of the applicable procedural agreement and/or transfer assets to a separate margin term account. .

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