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Consent Awards in International Arbitration: From Settlement to Enforcement

43 Pages Posted: 20 Mar 2015 Last revised: 11 Nov 2015

Y. Kryvoi

The British Institute of International and Comparative Law (BIICL)

Dmitry Davydenko

Max Planck Institute for Comparative and International Private Law

Date Written: November 7, 2015

Abstract

Although over a third of all arbitration proceedings result in settlement agreements very little has been written on the legal status of consent awards in international arbitration.

Drawing on comparative analysis of procedural rules and practice of major arbitration tribunals, domestic law of common and civil law jurisdictions, this Article presents the first major study of consent awards in international arbitration.

Consent awards, being effectively settlement agreements recorded by arbitration tribunals as awards, raise a number of difficult legal questions, ranging from the right of arbitrators to refuse recoding the settlement as a consent award to the possible use of consent awards to cover illegal activities.

Understanding what makes consent awards different from “normal” arbitration awards will help successfully navigate from settlement to enforcement.

Keywords: arbitration, settlement, award on agreed terms, mediation-arbitration, enforcement, illegality, arbitration awards

JEL Classification: K40, K41, K33, K42, K49

Suggested Citation

Kryvoi, Y. and Davydenko, Dmitry, Consent Awards in International Arbitration: From Settlement to Enforcement (November 7, 2015). Brooklyn Journal of International Law, Volume 40, pp. 827-868, 2015. Available at SSRN: https://ssrn.com/abstract=2580572

Y. Kryvoi (Contact Author)

The British Institute of International and Comparative Law (BIICL) ( email )

Charles Clore House
17 Russell Square
London WC1B 5JP
United Kingdom

HOME PAGE: http://www.biicl.org/itf

Dmitry Davydenko

Max Planck Institute for Comparative and International Private Law ( email )

Mittelweg 187
Hamburg, D-20148
Germany

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