Generally, in international commercial arbitrations the remedy
which is most commonly sought and which is usually granted, is that
of damages, with only a relatively small percentage of the entirety
of those awards providing for a remedy of specific performance.
This is mainly due to the fact that 'specific performance'
may be understood and dealt differently in common law and civil law
jurisdictions, and which can give rise to difficulties in
enforcement. In the context of English and Cyprus law, the term
'specific performance' is understood as a 'remedy
available in equity to compel a person actually to perform a
contractual obligation'. Whether an arbitration tribunal has
jurisdiction to grant an order for specific performance normally
depends on the terms of the parties' arbitration agreement.
Nevertheless, as long as the remedy of specific performance is not
excluded by agreement, it is generally accepted that an Arbitration
Tribunal has the power to grant it.
