[Recognition and Enforcement of the Arbitral Awards]

By

Acknowledgement

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

Declaration

I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

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Abstract

In this study, we try to explore the concept of arbitral awards in a holistic context. The focus of the research is on recognition, enforcement, and its relation with international arbitration laws. The research also analyzes many aspects of arbitral awards and laws and tries to gauge its effect on different countries. Finally, the research describes various factors, which are responsible for recognition and enforcement, and tries to describe the overall effect of recognition, enforcement on foreign arbitral awards.

Table of Contents

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

Background of the study1

Problem Statement2

Purpose of the study3

Significance of the study3

Rationale of the study4

CHAPTER 2: LITERATURE REVIEW6

CHAPTER 3: METHODOLOGY12

Research Design12

Literature Search12

Keywords13

CHAPTER 4: DISCUSSION & ANALYSIS14

CHAPTER 5: CONCLUSION47

REFERENCES50

Chapter 1: Introduction

Background of the study

International arbitration is a leading means for the resolution of commercial disputes of an international character. There are almost as many definitions of international arbitration as there are commentators on the subject. Moreover, the term encompasses a whole kaleidoscope of different specific dispute resolution procedures (both institutional and non-institutional) that might, in turn, be applied to a broad spectrum of different forms of dispute. In general terms, however, international arbitration involves the definitive and binding resolution of an international dispute between two or more parties, pursuant to an agreement between those parties, by an independent, nongovernmental decision maker or decision makers. (Born 2009:173)

Once an arbitral tribunal has made its award, it has fulfilled its function, and its existence comes to an end. If the award is not carried out voluntarily, that award may be enforced in proceedings in one or more national courts. The New York Convention, which most major trading nations have ratified, imposes on signatory states certain uniform obligations in terms of the enforcement of international arbitration awards. Once rendered, an arbitration award is final and binding; an appeal against the award typically lies only in limited circumstances defined by the arbitration legislation of the jurisdiction where the award is rendered (the most common grounds of appeal include that the arbitral tribunal lacked the substantive jurisdiction to make the award or that the tribunal breached standards of procedural fairness). (Cheshire 2010: 198)

Problem Statement

A state often enters into various types of contractual relations with foreign private parties such as oil and mineral concessions, joint ventures, production-sharing contracts, contracts of works, technical assistance contracts, agricultural and manufacturing concessions, transfer of technology, licensing contracts etc. It is the usual phenomenon that both the parties will perform their obligations as per the terms of contract. Again, it is also typical that dispute may arise out of breach of ...