How Final and Binding Is an Arbitral Award

This course intends to show there is a legal process for resolving disputes other than litigation. Commercial arbitration is an alternative dispute resolution process that can lead to a final and enforceable award. Likewise, commercial arbitration, although private in character, can lead to a final award with the force and effect of a court judgment.

Aside from achieving a final and enforceable award, commercial arbitration offers a dispute resolution process which is much faster than court proceedings. It is not an exaggeration to say that a dispute which may last two or three years in a trial court may be resolved in less than a year through commercial arbitration.

At the end of this course, you will be able to:

•        Determine other forum that can authoritatively resolve disputes with binding effect

•        Distinguish commercial arbitration from domestic, international, and foreign arbitration

•        Recognize the character of finality of an award rendered in any type of arbitration

•        Identify the remedies after an arbitral award has been rendered in an international arbitration

•        Identify the remedies after an arbitral award has been rendered in foreign arbitration