Types of arbitration
There are many ways of classifying arbitration proceedings. The most common classification distinguishes between the following categories:
Commercial arbitration
Arbitration proceedings involving companies or individuals in connection with a commercial transaction
Investment arbitration
Arbitration proceedings between a sovereign State and a foreign investor, typically decided under international law
Arbitration in law
An arbitration in which the arbitrators must resolve the dispute by applying the law of a legal system
Arbitration in equity
An arbitration in which the arbitrators shall resolve dispute to the best of their knowledge and belief, without applying rules of law
Institutional arbitration
An arbitration conducted in accordance with the rules of an arbitration institution, which provides administrative support and ensures the proper conduct of the proceedings
Ad hoc arbitration
An arbitration that takes place without the intervention of an arbitration institution. The procedure is governed by the agreements reached by the parties and, in all other respects, by the applicable arbitration law
