A Model Clause for a New Kind of Final Offer Arbitration in International Commercial Arbitration: the “Final Draft Award” Arbitration
A recent post discussed the upsides and downsides of the so-called Final Offer Arbitration (“FOA”) also known as Baseball Arbitration. In short, in an FOA, instead of crafting an award from scratch, the arbitral tribunal simply has to pick either party’s final offer on the claims and elevate it to the final award, usually without…