Arbitral awards are final and binding. In certain circumstances, however, they can be challenged or annulled through judicial proceedings. The annulment of arbitral awards (also known as “setting aside” or “vacatur”) refers to the legal process by which a court sets aside or nullifies an arbitration award that has been issued by an arbitral tribunal. […]
Pre-Arbitral Requirements
It is common to encounter pre-arbitral requirements in international arbitration agreements.[1] Compliance with these procedural requirements, included in multi-tiered dispute resolution clauses, is typically a prerequisite to the commencement of arbitration proceedings.[2] The underlying intent of these requirements is to ensure that parties in dispute make genuine efforts to amicably resolve their issues before resorting […]
Arbitration in Nigeria: The 2023 Reform
On 23 May 2023, Nigeria introduced the 2023 Arbitration and Mediation Act (the “New Act”), repealing its 35-year-old arbitration act (the 1988 Nigerian Arbitration and Conciliation Act, Cap A18). The New Act aims to “provide a unified legal framework for the fair and efficient settlement of commercial disputes by arbitration and mediation”. It also “make[s] […]
International Arbitration in Ecuador
The Arbitration and Mediation Act (“Act”) of Ecuador was first enacted in 1997. However, even after amendments adopted in 2015, the legislation contained regulatory gaps and vague terms, which did not allow arbitrators and judges to build a steady body of interpretation. The fact that the country denounced the ICSID Convention in 2009 added further […]
Arbitration in the United Arab Emirates (UAE)
Arbitration in the United Arab Emirates (UAE) is a reliable and efficient method for resolving conflicts in a world where commercial disputes can arise quickly. Known for its dynamic business landscape and international trade, the UAE has embraced arbitration as a powerful means of settling commercial disputes. In this note, we delve into the nuances […]