Documents

Arbitral Awardspaper

Categories
Published
of 2
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Related Documents
Share
Description
Arbitral Awardspaper
Transcript
  Arbitral Awards: Finality and grounds for setting aside”  FINALITY AROUND THE GLOBE In some jurisdictions the finality of the arbitral award is considered essential with the only means of recourse being setting aside proceeding before state courts 1 . According to Art. 28(6) of the ICC Rules: Every Award shall be binding on the parties... (And J ... by submitting to arbitration under these Rules, the parties undertakes to carry out any a ward without delay and shall be deemed to have waived their right to any form of recourse insofar as such waiver can validly be made. ln the case of Iran/US Claims, the Declaration of the Algerian Government (Article IV) and the Tribunal Rules of Procedure (Art. 32(2)) state that all decisions and awards of the Tribunal shall be final and binding - which by the way does not mean that they are self-executing . 2  The Swiss Private International Law Statute (Art. 192) states that an Award may not be challenged by way of an action for setting aside to the extent that the parties have no domicile, habitual residence, or business establishment in Switzerland and that they have expressly excluded ail setting aside proceedings in the arbitration agreement.. . And the same Swiss Statute (in Art. 190) provides that: (1) The award is final from the time it is communicated. ”  2) Proceedings for setting aside the award may on IV be initiated: a) Where... (b)... (c)... (d)... (e)... 3  ln France, Art. 1476 NCPC states that, as soon as it is delivered, the Award has, as regards the dispute, the authority of a resjudicata .ln a recent Note 4 , a well-known French  practitioner (Serge Lazareff)stressed the danger, for the effectiveness of arbitration, of the multiplication of setting aside proceedings and he called upon heavier judicial sanctions against the abuse of such proceedings and the repudiation of promises. Indeed, there is no doubt about the tendency of many attorneys, in many countries today(especially of course 1  Revision of Arbitral Awards: Nathalie voser and Anya George 2  Zachary Douglas in BYBIL, 2003, pp 151-228. 3   + Art. 191 - (they J may only be brought before the Federal Supreme Court.   4   Published in the Cahiers de l'Arbitrage - July 2007.    among Losing parties ), to use and abuse whatever possibilities legislation and case law offer to set aside an award or delay or paralyze its enforcement. Some courts have ignored this finality judgement requirement and have focused on Contractual liberty as justification for applying the FAA and UAA to any proceedings that  parties deem arbitration, including proceedings that parties deem arbitration, including  proceedings that are subject to substantive judicial review on grounds outside the limited review prescription of the acts. 5  Prior to 1996 Arbitration Act , the award could be challenged and remitted to the tribunal if new evidence came to light after the final award was rendered .this is no longer possible unless e.g the evidence is wilfully withheld which would be construed as an irregularity. 6  FINALITY OF ARBITRAL AWARDS IN INDIA 5   6  John Sutton/Judith Gill, Russell on Arbitration ,22 nd  ed London 2003, N 8-080
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks