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Re: Re: CIETAC South China Sub-Commission
by melody618qw on 20 Oct 2008 18:46
Comment from an expert correcting Mr. Tarun's misunderstanding:
According to the New York Convention with 143 member countries, an arbitral award is enforcible and only subject to very limited judicial review (only when corruption or undue process occurs, which is highly rare).
That is, member countries recognize and enforce arbitral award between each other, so the arbitral award is as good as, and even better than a court decision, since a national court decision can't be enforced out side of its home country because there is no such international convention on court decision.
Quoting from [Tarun]:
Your fees is too high, and in most cases the either of party will have to move to court since you have no authority to actually execute the decision that you may reach.
Re: CIETAC South China Sub-Commission
by melody618qw on 20 Oct 2008 18:49
Comment from an expert correcting Mr. Tarun's misunderstanding:
According to the New York Convention with 143 member countries, an arbitral award is enforcible and only subject to very limited judicial review (only when corruption or undue process occurs, which is highly rare).
That is, member countries recognize and enforce arbitral award between each other, so the arbitral award is as good as, and even better than a court decision, since a national court decision can't be enforced out side of its home country because there is no such international convention on court decision.
Comment from an expert correcting Mr. Tarun's misunderstanding:
According to the New York Convention with 143 member countries, an arbitral award is enforcible and only subject to very limited judicial review (only when corruption or undue process occurs, which is highly rare).
That is, member countries recognize and enforce arbitral award between each other, so the arbitral award is as good as, and even better than a court decision, since a national court decision can't be enforced out side of its home country because there is no such international convention on court decision.
Re: CIETAC South China Sub-Commission
by melody618qw on 20 Oct 2008 20:13
Enforciblity of an Arbitral Award:
According to the New York Convention with 143 member countries, an arbitral award is enforcible and only subject to very limited judicial review (only when corruption or undue process occurs, which is highly rare).
That is, member countries recognize and enforce arbitral award between each other, so the arbitral award is as good as, and even better than a court decision, since a national court decision can't be enforced out side of its home country because there is no such international convention on court decision.