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BIAC-a center for alternative dispute resolution

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farzanamili:
15. What is an arbitration award?

An arbitration award is decision of the Arbitral Tribunal arrived at on the basis of terms of the contract, evidences adduced by the parties during arbitration and in accordance with the rules of law as are designated by the parties. Under Bangladesh Arbitration Act of 2001 [section 36(2)], if the parties fail to designate the law the Arbitral Tribunal shall apply the rule of law it considers appropriate. An arbitration award shall be made in writing, signed by the arbitrator(s) and shall state its date and place. Where there is more than one arbitrator, decision of the tribunal should be made by the majority of the members. In most jurisdictions, the arbitrators are not required to render a written explanation of his/her decision with the award. Under Bangladesh law no reasons have to be stated by the arbitral tribunal where the parties have agreed that no reasons are to be given. An arbitration award is legally enforceable in the court of the state or country having jurisdiction over the dispute and can be set aside or challenged under very limited circumstances.

Source:BIAC

farzanamili:
16. The arbitration is over and I receive an award, what shall I do next? How can I get an arbitral award enforced in Bangladesh? What are the grounds to set aside an arbitral award?

On receipt of the award you should examine the award minutely and decide if you need any correction or interpretation.

Once an arbitration award is received by the parties, the grounds for seeking changes are extremely limited and must be exercised within the stipulated time. Under BIAC Arbitration Rules, it is 14 days from the date of receipt of the award by the party, who may request the arbitral tribunal with a notice to the other party, to correct any computation error, clerical or typographical error or any other error of similar nature occurring in the award or to give an interpretation of a specific point in the award. If the arbitral tribunal finds the request justified, it will correct the award accordingly within 14 days of receipt of the request.

Under Bangladesh law, a competent court may set aside an arbitration award on the application of a party within 60 days from the receipt of the award by the party. The grounds for setting aside of the arbitration award are limited by the Arbitration Act 2001. If the other party does not apply to the court to set aside the award within this period and/ or fails to implement the award, you should apply to the competent court for enforcement of the award.

Arbitral Award is final & binding (Rule 24 sub rule 10). However the court may set aside the award on application of a party within 60 days from receipt of the award. 

Section 43 of the Arbitration Act 2001 laid down grounds to set aside an arbitral award.

An arbitral award may be set aside if the party furnishes proof that

a. A contracting party was under some incapacity;

b. Arbitration agreement was not valid;

c. The party making application was not notified properly;

d. Arbitral award deals with a dispute not falling within the scope of the arbitration agreement;

e. Constitution of the tribunal was not in conformity with the arbitration agreement;

f. Dispute was not arbitrable, award was conflicting with laws or public policy of Bangladesh;

g. Award was induced or affected by fraud or corruption.

source: BIAC

farzanamili:
17. What if I am unhappy with the arbitrator’s decision – is there any appeal process?

Under Bangladesh law, arbitral awards may be set aside by the court. However, the grounds on which this can be done are very limited and specified clearly. In general, the court will treat the arbitral award as final unless specific provisions of the law have been violated or the award has violated the grounds specified under section 43 of the Arbitration Act 2001.

source:BIAC

farzanamili:
18. What are the differences between arbitration and mediation?

Both arbitration and mediation are forms of alternative dispute resolution (ADR) that allow parties to settle disputes outside of the court system. In arbitration, two parties generally present evidence to a neutral third-party arbitrator(s), who consider(s) the provisions of the contract, evidences adduced, applies the law and renders a binding decision. The party, against whom the award has gone, may appeal to the court to set it aside under very limited circumstances.

In mediation, two parties generally work with the neutral third-party mediator to reach a mutually agreed solution to a dispute. Here the mediator helps both the parties to resolve the dispute themselves. Since this is a mutually-agreed settlement, it is likely to be implemented by the parties themselves. The settlement agreement concluded through the process of mediation is binding on both the parties and enforceable through court.

source:BIAC

farzanamili:
19. Can the mediator “force” the parties to settle?

No. A mediator cannot force the parties to settle. He can only facilitate settlement of the dispute between the parties. The parties themselves must agree on the terms of the settlement.

source:BIAC

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