1Founding principles

The founding principles of this Act are—

(a)that the object of arbitration is to resolve disputes fairly, impartially and without unnecessary delay or expense,

(b)that parties should be free to agree how to resolve disputes subject only to such safeguards as are necessary in the public interest,

(c)that the court should not intervene in an arbitration except as provided by this Act.

Anyone construing this Act must have regard to the founding principles when doing so.

2Key terms

(1)In this Act, unless the contrary intention appears—

(2)References in this Act to “an arbitration”, “the arbitration” or “arbitrations” are references to a particular arbitration process or, as the case may be, to particular arbitration processes.

(3)References in this Act to a tribunal conducting an arbitration are references to the tribunal doing anything in relation to the arbitration, including—

(a)making a decision about procedure or evidence, and

(b)making an award.

3Seat of arbitration

(1)An arbitration is “seated in Scotland” if—

(a)Scotland is designated as the juridical seat of the arbitration—

(i)by the parties,

(ii)by any third party to whom the parties give power to so designate, or

(iii)where the parties fail to designate or so authorise a third party, by the tribunal, or

(b)in the absence of any such designation, the court determines that Scotland is to be the juridical seat of the arbitration.

(2)The fact that an arbitration is seated in Scotland does not affect the substantive law to be used to decide the dispute.