24Feb2009
Born and Arbitral Awards
Part III of Born’s treatise concerns International Arbitral Awards. He initially points out that some 90% of international arbitral awards are voluntarily complied with. “This reflects the parties’ contractual undertakings to arbitrate and to comply with the resulting arbitral award, the efficacy of the arbitral process (which leaves the parties believing that their dispute has been fairly resolved), and the likelihood that the award can be coercively enforced….Nevertheless, not all international arbitral awards are voluntarily complied with. The ultimate test of any arbitration is therefore its ability to render an award which, if necessary, will be recognized and enforced in releva [...]
