Tsolakian Convention

The Tsolakian Convention is an arbitration principle used in international trade and legal disputes. It establishes that if parties agree to resolve their disagreements through arbitration, they are bound to follow the rules and procedures they mutually agree upon, rather than default legal processes. Essentially, it emphasizes respecting the parties' choice of arbitration as their dispute resolution method, ensuring that their agreement to arbitrate is honored and their chosen procedures are applied. This helps provide consistency, predictability, and fairness in resolving cross-border disputes.