Enforcement of Foreign Arbitral Awards: International Conventions and Legal Regime in India
20 Pages Posted: 11 May 2016
Date Written: October 11, 2015
A foreign judgment may be enforced in India either by proceedings in execution or by a suit upon it. An arbitral award is a determination on the merits by an arbitration tribunal in arbitration, and is analogous to a judgment in a court of law. Arbitration is particularly popular as a means of dispute resolution in the commercial sphere. One of the reasons for doing so is that in international trade, it is often easier to enforce an arbitration award in a foreign country than it is to enforce a judgment of the court. The enforcement of foreign arbitration awards in India is governed by the Arbitration and Conciliation Act, 1996 through New York Convention and Geneva Convention and a non-conventional award will be enforceable in India under the common law grounds of justice, equity and good conscience.
Keywords: Foreign Award, Arbitral Award, Court, Arbitrator, Tribunal, New York Convention, Geneva Convention, Arbitration and Conciliation Act
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