A Scheme for Internation: Action London, 30. the settlement. of into mercial disputes by been prepared and now only aw the formal approval of the executive of the International Chamber of Commerce. Only a few countries recognize arbitration awards when given. The International Chamber scheme aims at getting over this difficulty by the application of strong moral pressure, which, with ultimate threat of international disrepute, should, it is hoped, prove sufficient to compel firms of any standing at all to comply with the awards.
Other legal difficulties have been safeguarded in the rules, and very special attention has been devoted to the machinery for selecting the place at which arbitrations shall be held and the choosing of arbitrators. By virtue of proposals by the Manchester Chamber of Commerce it has now been arranged to rely upon local experience and knowledge to choose the arbitrators and arrange the arbitration, whilst the whole. weight of the International Chamber and ils national committee in each country shall be employed to curry the awards into practical effect.
Text read from the printed page and cleaned; old type leaves the occasional error.