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Nairaland Forum / Nairaland / General / Business / Effect Of Arbitral Awards (134 Views)
Dangote Farms Faces Liquidation For ‘Defaulting’ On Arbitral Award / Some Effect Of Cashless Policy / Effect Of Arbitral Awards (2) (3) (4)
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Effect Of Arbitral Awards by freshwaters: 7:32am On Mar 05, 2021 |
Arbitral awards are the final decision of the arbitral tribunal. Court are enjoined by law to, as much as possible, uphold, affirm and enforce them especially considering that parties voluntarily agreed to the arbitration. By Section 29 and 30 of the Arbitration and Conciliation Act, Arbitral awards can be set aside on the following grounds: a) Where the award is beyond the scope of the reference b) Where the proceedings or the award have been improperly procured. E.g. Fraudulent practices, concealing evidence... etc. c) Where the arbitrators misconducted themselves d) Where there is an error of law on the face of the award We hope these succinct but salient points provide more insight for you into arbitral proceedings. Business legal offers individuals and companies the opportunity to enter formal advisory arrangements with us. Contact us at www.businesslegal.ng |
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