ADR refers to dispute resolution processes outside court system. Term originated from Frank Sander's paper on dispute processing. ADR has gained widespread acceptance despite historic resistance
CAS arbitration rules apply to sports-related disputes referred by parties. CAS seat is Lausanne, Switzerland. Proceedings conducted in French, English or Spanish. Parties may be represented by their choice
Convention seeks common standards for international arbitration awards. Applies to awards made in any state except where enforcement sought. Aims to ensure non-domestic awards are recognized and enforced fairly
ADR refers to dispute resolution outside courtroom without litigation. Main methods include mediation, arbitration, conciliation, negotiation, and transaction. Parties often combine different ADR methods in practice. ADR offers rapidity, confidentiality, and flexibility
Disequilibrium occurs when market forces prevent reaching equilibrium. Keynes first proposed this theory in 1930s. Market equilibrium requires supply equal to demand at market-clearing price
Arbitrators must be impartial and independent from parties at appointment. Disclosure of potential conflicts is mandatory for arbitrators. Parties can waive conflicts if they don't object within 30 days