Advantages and disadvantages of arbitration. - Humphreys.
An arbitration award (or arbitral award) is a determination on the merits by an arbitration tribunal in an arbitration, and is analogous to a judgment in a court of law. It is referred to as an 'award' even where all of the claimant's claims fail (and thus no money needs to be paid by either party), or the award is of a non-monetary nature.
Challenging a arbitration award or decision with support of the case law On the ground that the arbitral tribunal lacked substantive jurisdiction (substantive jurisdiction) On the ground that there was a serious irregularity affecting the arbitral tribunal, the proceedings or the award.
From five countries’ practice, the essay gives a detailed investigation on the enforceability of the delocalised arbitral awards. The essay also makes a minute theoretical analysis about the enforceability of the delocalised arbitral awards.This essay holds that the online arbitration must has something to do with the delocalisation theory.
Therefore, an award debtor can rely on BVI public policy regardless of the law or public policy of the seat of the arbitration. However, the judge noted various authorities demonstrating that it is important for the court to take account of the strong public policy in favour of enforcing foreign arbitral awards.
This paper is part of an examination of the College counting towards the award of a degree. Examinations are governed by the College Regulations under the authority of the Academic Board. LLB EXAMINATION. 6FFLK027 COMMERCIAL ARBITRATION. SUMMER 2013. TIME ALLOWED: THREE HOURS. ANSWER ANY THREE QUESTIONS. CLOSED BOOK EXAMINATION.
Arbitration, a form of alternative dispute resolution (ADR), is a way to resolve disputes outside the courts.The dispute will be decided by one or more persons (the 'arbitrators', 'arbiters' or 'arbitral tribunal'), which renders the 'arbitration award'. An arbitration award is legally binding on both sides and enforceable in the courts.
The legal nature of arbitration is founded on its purpose and intent and that is to provide an alternative means of acquiring adjudication. It provides the parties with an informal method of “litigating” a civil dispute which in all probability would be more costly and time consuming in a court of law.