- Recognition and enforcement
This chapter examines the recognition and enforcement of arbitral awards. It discusses the carrying out, or performance, of awards, so as to place recognition and enforcement in their proper context. In arbitration, if the losing party fails to carry out an award, the winning party needs to take steps to enforce performance of it. Two steps may be taken. The first is to exert some form of pressure, commercial or otherwise, in order to show the losing party that it is in its interests to perform the award voluntarily. The second is to invoke the powers of the state to obtain a charge over the losing party’s assets or in other ways to compel performance of the award. Pressure may also be exerted through adverse publicity. This method is adopted by trade associations and has the effect of discouraging other traders in the market from dealing with the defaulting party.
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