Public Policy as Filter for Enforcement of Foreign Arbitration Awards in India

ABHIJEET SINGH LL.B. Vth SEM., BHU INDIA, 2010-13 | | PUBLIC POLICY AS FILTER FOR ENFORCEMENT OF FOREIGN arbitrament AWARDS IN INDIA It is often said that the parties to a contract head word their own law, and it is; of course, true that, subject to the rules of man insurance and  ordering public, the parties are free to agree upon such terms as they may choose. Nevertheless, agreements that are intended to have juristic transactions (as opposed to a merely social operation) create good rights and duties, and legal rights and duties cannot exist in a vacuum lay aside must have a place within a legal system. -Lord McNair [1] INTRODUCTION Judicial enforcement of arbitral awards is necessary where there is no voluntary compliance by the relevant parties. Courts world-wide may retract to enforce arbitral awards if such enforcement would be extreme to the public policy of their countries. This is known as the public policy ejection to the enforcement of arbitral awards.

It is enshrined in the New York Convention on the acknowledgment and Enforcement of Foreign Arbitral Awards 1958 (New York Convention) and the UNCITRAL Model Law on planetary Commercial Arbitration 1985 (Model Law), which are two of the nigh heavy(p) international instruments in promoting and regulating international commercial arbitration. A general rule downstairs Arbitration and c onciliation movement, 1996 has been precon! dition for enforcement of foreign award passed in a signatory juiceless land of New York Convention country but it is not as general as appears to be as the Act of 1996 itself has created some(prenominal) barriers on enforcement of a foreign award mainly if it is opposition to public policy, and also because of Supreme Courts rulings in various cases for setting aside these awards.   Foreign Arbitral Awards: under Section 44 of the Act, a foreign...If you want to get a full essay, order it on our website: BestEssayCheap.com

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