Sentences with phrase «final arbitral award»

In the spirit of this overall duty, the FAI Rules impose a number of obligations on the arbitral tribunal and the parties that are designed to reduce time and costs of the proceedings, including an obligation on the arbitral tribunal to render the final arbitral award within nine months from the receipt of the final award.

Not exact matches

As previously disclosed, the Company received a final judgment in its favor for a total of US$ 1.9 million plus interest from the US District Court for the District of Arizona in January, 2016 related to an arbitral award of R$ 7.8 million, including interest and penalties, from a Brazilian arbitration panel.

In 2009 the arbitral tribunal found that it had jurisdiction over the dispute and in 2012 the arbitral tribunal delivered a final award on the merits, unanimously stating that the Russian Federation was guilty of expropriation and ordered Russia to pay compensation in accordance with the BIT.

Unlike the judgments made in litigation of first instance, arbitral awards become final and binding on the parties as soon as it is rendered.

[7] While excluding judicial decisions and arbitral awards will limit the number of parties served by the instrument, the working group considered it best to avoid «overlap» with other conventions and minimize confusion among enforcement authorities over which instrument applies, although the final wording of this provision remains to be determined.

Indeed, the majority further expressed the view (obiter) that an arbitral tribunal could order a final (rather than interim) award requiring compliance with the DAB's decision if that is all that the tribunal was asked to rule on.

Respecting contractually - agreed privative clauses which block court appeals would make an arbitral award truly final and binding, they said.

[71] Commercial parties in particular are urged to exclude «to the fullest extent» [72] the availability of appeal in their arbitration agreements and to fully embrace arbitral awards as final.

Arbitral awards which are final and binding, are generally enforceable in more than 150 countries under the New York Convention (subject to any local legislation and / or requirements).

He went on to say that «in our view, an application... for leave to enforce an award as a judgment is... one aspect of its recognition and as such is the final stage in rendering the arbitral procedure effective.

The arbitral tribunal shall in the final award or, if it deems appropriate, in any other award, determine any amount that a party may have to pay to another party as a result of the decision on allocation of costs.

Without the SPC's final approval, local courts are not allowed to decide against a foreign - related arbitral agreement, a foreign - related award or a foreign award.

(iii) the making of the final award was induced or affected by fraud or corruption as the underlying contract in the arbitral proceedings was procured by bribes (the «Public Policy Issue «-RRB-.

Be sure to check back for the final post in our arbitration series, in which we will discuss the enforcement and appeal of arbitral awards.

A final and binding award, therefore, precludes the successful party from bringing the same claim (s) again, either in a fresh arbitration or before the national courts, and precludes both parties from contradicting the decision of the arbitral tribunal on a question of law or fact decided by the award (Sun Life Insurance Company of Canada and others v The Lincoln National Life Insurance Company [2006] 1 All ER (Comm) 675; Injazat Technology Capital Ltd v Najafi [2012] EWHC 4171 (Comm)-RRB-.

In this issue: Arbitration in China: the final chapter of the CIETAC schism; Challenging enforcement of an award and partial enforcement in Australia; Challenging enforcement of an arbitral award in Singapore; Conferences and events

The arbitral award shall be final and binding.

Any unsettled controversy or claim between the parties arising out of or relating to this Agreement or any breach thereof shall be settled by final and binding arbitration in New York, New York pursuant to the rules then in effect of the CPR Rules of Non-Administered Arbitration and in accordance with the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards; provided that the arbitrator shall have no authority to add to, amend, modify, or ignore any of the provisions of this Agreement.

[1] The number of months in parenthesis indicates the duration between the date on which the case file is transmitted to the arbitral tribunal and the date of the final award.

The decision appears to leave open the possibility of appealing an arbitral decision if it amounts to a «final order» even if it is not the final award of the tribunal: Universal Settlements International Inc. v. Duscio.

An interim arbitral order which is not a final award of the arbitral tribunal may not be enforceable outside the place of the arbitration.