One of the reasons why parties choose arbitration over litigation is the principle of finality – that the decision of an arbitral tribunal on the substance of the dispute cannot be appealed.
An attack on the merits of the award (referred to in this report as an “appeal”) is generally not permitted. This principle of finality is embodied in the rules of major arbitral institutions, and recognised in the national laws of nearly all popular arbitration seats - whether by adoption of the UNCITRAL Model Law or by freestanding legislation.
Please see full publication below for more information.