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How to enforce a foreign arbitral award?
ChannelLawSikhoDescription from the creator
A foreign arbitral award can be enforced in India under two parameters. They are under-:
i) New York Convention (Section 49)
ii) Geneva Convention (Section 58)
If the country is a party of both of the aforementioned conventions, New York Convention will prevail.
Also, note that Section 44B and 53C of the Act are also important which states reciprocity and commercial reservation respectively.
The award must have a commercial holding too to get it enforced.
Also under section 34 of the Act, a challenge can be made against the enforcement of the award, and the stipulated time is of one month for that challenge. So that period needs to be taken into consideration.
Also, the fundamental principles of arbitration tribunal must be followed by the agreement, so as to enforce the award.
#LawSikho #Arbitration #AbritrationAward #LegalLearning
i) New York Convention (Section 49)
ii) Geneva Convention (Section 58)
If the country is a party of both of the aforementioned conventions, New York Convention will prevail.
Also, note that Section 44B and 53C of the Act are also important which states reciprocity and commercial reservation respectively.
The award must have a commercial holding too to get it enforced.
Also under section 34 of the Act, a challenge can be made against the enforcement of the award, and the stipulated time is of one month for that challenge. So that period needs to be taken into consideration.
Also, the fundamental principles of arbitration tribunal must be followed by the agreement, so as to enforce the award.
#LawSikho #Arbitration #AbritrationAward #LegalLearning
About this tutorial
LawSikho published this 3:58 video tutorial on November 10, 2018. It has been watched 22,303 times on YouTube.
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