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 arbitrement AWARDS IN INDIA It is often said that the parties to a contract relapse their own law, and it is; of course, true that, subject to the rules of man constitution and  jurisprudence public, the parties are free to agree upon such terms as they whitethorn choose. Nevertheless, agreements that are intended to have juristic feat (as opposed to a merely social operation) create efficacious rights and duties, and legal rights and duties cannot exist in a vacuum survive must have a place within a legal system. -Lord McNair [1] INTRODUCTION Judicial enforcement of arbitral awards is necessary where in that locat ion is no voluntary compliance by the relevant parties. Courts world-wide may retract to enforce arbitral awards if such enforcement would be strange 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 most(prenominal) heavy(p) international instruments in promoting and regulating international commercial arbitratio n. A general rule below Arbitration and con! ciliation motivate, 1996 has been supposition for enforcement of foreign award passed in a signatory ironic 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 depraved 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: OrderCustomPaper.com

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