Enforcing Arbitral Awards On The Commercial List

While arbitration is often considered a more expeditious and cost-effective alternative to the traditional trial process, the enforcement of an arbitral award often requires the additional step of obtaining a Court judgment. An arbitration award is a final and binding determination of the amount owing.  However, typically the arbitral tribunal has no practical power to enforce the arbitral award.

To enforce an arbitration award, the typical steps are as follows:

• request the funds from the debtor party;
• consider any payment plan that may be necessary in the circumstances; and
• begin enforcement proceedings where necessary.

While a Court judgment can be enforced immediately, an arbitration award must first be converted into a judgment.