Should an international arbitration for a small claim, for instance an amount in dispute of less than USD 50,000, even be commenced? This is a recurring question asked by clients with small claims who wonder if it is worthwhile to commence arbitration proceedings and to incur additional costs in order to recover small amounts. Claimants […]
What Makes a Good Final Award in an Arbitration?
The Final Award is the key decision in an arbitration that has important consequences, in the sense that it is the end outcome of a controversy, or a dispute submitted to an arbitral tribunal or a sole arbitrator, and it will affect the rights between the parties and may not normally be appealed. In addition […]
New LCIA Arbitration Award Rendered in Favour of Aceris’ Client
Aceris Law has helped to obtain another positive outcome for another client in a complex arbitration involving significant claims, with the rendering of a Final Award on 30 August 2018 following two years of arbitration proceedings under the LCIA arbitration rules. The dispute, which had its seat in London, was rendered under the substantive and […]
Correction of Arbitration Awards
Correction of arbitration awards is one of the post-award remedies intended to rectify any errors, ambiguities or omissions in the arbitral tribunal’s award after its issuance. It frequently occurs in practice that arbitral awards contain certain minor, or sometimes, more significant, mistakes, ambiguities or omissions. While these errors usually concern minor and incidental issues, certain […]
Correction of Arbitral Awards in ICC Arbitration
To err is human, so the ICC Arbitration Rules provide for a special mechanism aiming to correct errors in arbitral awards. The correction of arbitral awards in ICC Arbitration is governed by Article 36 of the 2017 ICC Arbitration Rules, which reads: “Article 36: Correction and Interpretation of the Award; Remission of Awards 1) On its own […]