Parties entering into a business relationship are often advised that a fully formulated arbitration agreement should be carefully prepared so that if a dispute arises, the pathway to resolution is fixed and clear. Among suggested provisions is one identifying the arbitrator(s) or arbitral forum that will administer and, ultimately, enter a final award.
What happens, however, when the designated arbitrator or forum cannot or will not fulfill that obligation? Are the courts always empowered to designate a substitute arbitrator or forum or are there restrictions on their ability in this regard?
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