25 Jun 2017
Arbitration
ABOUT BAPMI | BINDING OPINION | MEDIATION | ADJUDICATION | ARBITRATION | MEDIATOR/ADJUDICATOR/ARBITRATOR | RULES | EVENTS
Introduction
Registration of Petition for Arbitration
Arbitration Agreement
Appointment of Arbitrator
Stages of Arbitration Proceedings
Arbitration Award
Enforceability of Arbitration Award
Arbitration Fees
Process

 

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Enforceability of Arbitration Award

Registration of Arbitration Award:
Within a period of 30 days from the date of pronunciation, the original sheet/ authentic copy of the Arbitration Award must be submitted and registered by BAPMI (in this case the Sole Arbitrator/ Arbitral Tribunal or their proxies) to the District Court Clerk. Registration is an important factor in enforceability of an Arbitration Award; no registration means the award will be unenforceable.

In the registration and petition process of execution order, the District Court Chairman does re-examine reasons or considerations of the Arbitration Award. This is protection and guarantee provided by Law that an Arbitration Award is truly independent, final and binding.

When either party is not willing to execute the Arbitration Award voluntarily, then:

  1. the Arbitration Award will be executed on an execution order of local District Court Chairman at the request of either party;
  2. the interested party and/or BAPMI may submit a complaint to the management of association/ organization in which it is a member;
  3. the association/ organization in which the interested party is a member and/or BAPMI may submit a complaint to the authority in Capital Market and all Members of BAPMI.
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