24 March 2017
Dispute resolution clauses providing for arbitration, but giving one party the exclusive right to elect to refer a particular dispute to litigation before the courts – known as 'unilateral option clauses' – are a common feature in many transaction documents. In light of the result of the United Kingdom's June 23 2016 referendum on membership of the European Union, it is worth considering whether unilateral option clauses remain fit for purpose.
This briefing has been reproduced with permission from the International Law Office. This article was first published on 23 March 2017.