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What Is The Double Declaration Of Parties On Confidentiality

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PARTY AGREEMENTS ON CONFIDENTIALITY. Part autonomy, should be respected at all cost except in defined situations.
To solve the double standards of arbitral confidentiality, the contracting parties must play the golden rule. Arbitration is rested on the agreement of the parties. Meaning, we cannot have arbitration if the parties haven’t agreed on it. How does this issue solve the conflicting views? Parties should be mature and reasonable enough to state want they want in their arbitral agreement . The reason for this is the principle of party autonomy in arbitration. Therefore, it is often said that arbitrators are servant and masters to the parties at the same. Should there be an express arbitration clause with a confidentiality provision, it will certainly become binding on the parties and the arbitrators except in a few situations such as public policy. If parties fail to include a confidentiality provision, then the conflicting view of express and implied duty of confidentiality will prevail. In addition, if all the contracting parties to be involved in arbitration expressly go for confidentiality, it will over time serve as a basis for the rule of law. This is how customary laws develop. That is, by the means to act in good faith when the law does not require one to. By this, I say that parties should be prudent enough to …show more content…

The uniform rule will have a positive impact on arbitration as it will not just solve the dual confidentiality notion but will also foster universal growth and predictability in arbitration. A uniform rule will have an added advantage in that it will limit the number of arbitral disputes going to the courts. This will be done by keeping private and confidential what is meant to be private and confidential under arbitration as an alternative dispute

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