Arbitration is considered to be a dispute resolution process between the parties which takes into consideration the arbitral tribunal appointed by the parties settling disputes at the request of a party. It is also considered an alternative method of resolving disputes where the parties to a dispute agree to submit the dispute to a third party deemed to be an arbitrator. Based on this arbitration process, arbitration awards are awarded to the arbitrator who resolves disputes. An arbitral or arbitration award is considered to be a decision based on the merits of arbitration by an arbitral tribunal and is analogous to the judgment given taking into account the rule of law in international law. In traditional dispute resolution, arbitration was actually used by states to resolve disputes between each other peacefully. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essayHowever, in modern dispute resolution, it has turned out to be a very common method that helps resolve all conflicts involved in investor-state as well as commercial disputes between private individuals. It has been found that in an arbitration process a party may not be satisfied with the drafting of an arbitration award. If any party to the dispute is dissatisfied with the awards or the decision, that party has the right to appeal for an award to the Court of Justice. The Global Arbitration Law is based on the English Arbitration Law. Under the rule of law in international law relating to arbitral awards, a dispute resolution party may or may not have the right to challenge or appeal an arbitral award rendered by arbitral tribunals without its legal jurisdiction. This is discussed in detail below with the support of various legal rules and regulations of arbitration as well as some court cases done earlier on this arbitration. According to the rule of law in international law relating to arbitral awards which are International Arbitration Act 1974, UNCITRAL, International Center for Settlement of Investment Disputes (ICSID), CETA and ICS, the appeal mechanism of arbitral awards could be compatible or less. However, in the decision of compatibility or incompatibility, private individuals address the issue by appealing against arbitral awards. A third party attempting to enforce an award from the disputing parties may or may not be eligible to arbitrate. The main question that has been described in this document is whether an individual has the right to appeal an arbitral or arbitration award under the jurisdiction of the arbitral tribunal after resolution of disputes on the merits. An arbitral tribunal is considered to be a panel of one or more judges who help resolve a dispute through the arbitration process. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay The rule of International law law relating to arbitral awards states that parties recommending the third party for dispute resolution may or may not have the right to complain or appeal an arbitral award. They can only assert or challenge such awards under the jurisdiction of the arbitral tribunals as the award is basically made only by the arbitral tribunals. The parties, who cannot appeal on the merits, have the right to choose one of the principles established in international arbitration law, the principle of finality. It is believed that any action may or may not be taken against the arbitration awards.