Hrynchak I. International arbitral tribunal as a mean of settling international disputes.

The thesis is devoted to the comprehensive theoretical and legal analysis of the international legal aspects of the international arbitral tribunal activity. In this work, an attempt was made to carry out a comprehensive analysis of arbitral justice in international law, the procedure of settling international disputes with the participation of international arbitral tribunals, as well as the legal nature and legal force of their decisions. In this work, the historical stages and models of formation and development of the international arbitral tribunal phenomenon in international law are investigated. Based on the historical sources, the dynamics and patterns of the development and replacement of historical models of arbitral tribunal as a way of reaching reconciliation between the parties to the dispute are provided. The 1907 Convention, in developing the concept of arbitral tribunal, invited the contracting parties to apply to the established international body – the Permanent Court of Arbitration. On the occasion of the 100th anniversary of the adoption of the Statute of the Permanent Court of Arbitration, by resolution of November 11, 1989 the United Nations General Assembly urged the participating countries to improve the legal process in the Permanent Court of Arbitration in order to restore its status as an authority capable of effectively securing the peaceful settlement of international disputes or providing high quality and comprehensive services recognized by the world community for resolving contradictions. The 2012 Rules of Arbitration adopted by the Administrative Council of the Permanent Court of Arbitration unconditionally opened a new page of arbitration proceedings by forming the appropriate prerequisites for the proper administration of justice. The content of arbitration obligation allows to determine the jurisdiction and competence of the arbitration body in the dispute. The novelty of approaches to the jurisdiction of international arbitral tribunals defines the possibility of extending the jurisdiction and distributing it to lawsuits involving private parties (individuals and legal entities). It is proved that the basis of the participation of private parties in arbitration proceedings is the international obligation of the state (for example, regarding the investment activity) or a public interest (ensuring compliance by the state with a state-declared regime), and so on. Most of the lawsuits initiated by Ukraine are related to the investment sector, so the opportunities and services of the Permanent Court of Arbitration are at the forefront. The Permanent Court of Arbitration also provides administrative support regarding the case filed by a private party «Naftogaz of Ukraine» v. the Russian Federation (the claim was initiated on October 16, 2016). In addition to the company «Naftogaz of Ukraine», among the plaintiffs are DAK ChornomorNaftoGaz, Ukrtransgaz, Ukrgazvydobuvannya, Ukrtransnafta. Today, Ukraine needs to rethink the possibilities of arbitration and the reasons for its application in foreign policy, and a proper understanding of the legal nature, essence and content of arbitration allows to properly form the national tools and mechanisms that can maximize its capabilities and benefits.