Dispute Resolution | 10 October 2016

Arbitration is a ‘one-stop’ dispute settlement system. Arbitral awards are final in the sense that they are not subject to appeals or other usual remedies. This finality brings with it the advantage of efficiency, but carries the risk that if arbitrators make mistakes, the parties will have to live with them. In principle, there is no way to rectify a mistaken award. As the only ‘safety net’, modern arbitration laws provide for the very limited remedy aiming at annulment or setting aside of the award. [Continue Reading]