How do I use the Korean Commercial Arbitration Board(KCAB)’s arbitration system?
The Korean Commercial Arbitration Board(KCAB)is a permanent statutory arbitration institution established in 1966 that performs arbitration work in various fields.
In order to apply for arbitration at the Korean Commercial Arbitration Board(KCAB), there must be an agreement between the parties to resolve the dispute through arbitration.
This is usually done by including an arbitration clause in the contract before the transaction.
However, even if there is no prior agreement to resolve the dispute through arbitration, the arbitration procedure can be used if there is a subsequent agreement between the parties.
If you file a lawsuit in violation of the arbitration agreement and the other party claims the fact of the arbitration agreement to the court, this is grounds for dismissal and the lawsuit cannot proceed any further.
Therefore, if a valid arbitration agreement exists, arbitration procedures must be conducted first.
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