Recourse of an Arbitral Award in Bangladesh: Dissection Under The UNCITRAL, Foreign Laws and Precedents
Keywords:
Arbitral Award, New York Convention, Bangladesh, Arbitration Act, English Law of ArbitrationAbstract
It is irrefutable that the arbitration process is controlled by arbitration seat law. Therefore, in the case of international commercial arbitration having the arbitration place in Bangladesh, and in the case of domestic arbitration that means where both parties are Bangladeshi, sections 42 and 43 of the Chapter VIII Arbitration Act 2001 lays down the rules in which applications can be lodged to set aside arbitral awards. Moreover, if the award contains some mistakes, the tribunal can correct an award by removing any clerical mistakes or errors under section 40 of the Arbitration Act 2001. This study was an attempt in the light of court rulings, article 33 and 34 of the UNCITRAL Model Law, 1985 and article 36 of the New York Convention, 1958 to critically examine section 40, 42 and 43 of the Arbitration Act 2001 of Bangladesh.
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References
1. Singh, A., 2002. Law of Arbitration and Conciliation. Eastern Book Company.
2. Torremans, P. and Fawcett, J., 2017. Cheshire, North & Fawcett: private international law. Oxford
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Case Laws:
1. Renusagar Power Co. Ltd. v. General Electric Company, 1984, 4 SCC 679
2. AIR 1999 SC 2102.
3. AIR 2003 SC 2629
4. Union of India v. Ratan Singh, AIR RAJ, 1999, 117.
5. AIR 2001 5 SCC 691.
6. Astro Nusantara International BV v PT Ayunda Prima Mitra [2012] SGHC 212
7. Balika Devi v KedarNath Puri AIR 1956 All 377
8. Chandra Nath v Suresh Jhalani (1999) 8 SCC 628.
ACT and Laws:
1. The UNCITRAL Model Law,1985
2. The New York Convention, 1958
3. The UNCITRAL Model Rules, 2010
4. European Convention on International Commercial Arbitration (Geneva, 1961)
5. The Arbitration Act, 2001 of Bangladesh
6. The Arbitration and Conciliation Act, 1996 of India
7. The Arbitration and Conciliation Act, (2001 amendment) of India
8. The Arbitration Act, 1940
9. The English Arbitration Act, 1996
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