Arbitral Award
The final decision of an arbitral tribunal, binding on the parties in place of a court judgment.
Detailed Meaning
An arbitral award is the arbitral tribunal's decision on the substance of a dispute submitted to it, and is enforceable in the same manner as a decree of a court once the limited period to challenge it has passed, subject to narrow, statutorily defined grounds for setting it aside.
Authoritative Sources & Provenance
Relevant Legislation
- The Arbitration and Conciliation Act, 1996
Frequently Asked Questions
On what grounds can an arbitral award be set aside?
Section 34 of the Arbitration and Conciliation Act permits setting aside an award only on limited grounds such as incapacity of a party, invalid arbitration agreement, lack of proper notice, the award dealing with matters beyond the scope of submission, or conflict with the public policy of India — courts generally cannot reappraise the merits of the dispute.
Can I appeal an arbitral award like a court judgment?
No — an arbitral award cannot be appealed on merits the way a court judgment can. A party may apply under Section 34 of the Arbitration and Conciliation Act to set aside the award, but only on the limited grounds specified in that section, not by reappraising the evidence or reasoning.
Related Concepts
General legal information for reference only, reviewed for accuracy but not a substitute for advice from a qualified advocate on your specific facts.