International Arbitral Awards: Judicial Intervention Redefined

Arbitration is an alternate means of resolving conflicts wherein an impartial Arbitrator is appointed to settle the dispute without the need to proceed with formal court proceedings. Nowadays, Arbitration is often used to resolve disputes related to commercial transactions, particularly international commercial transactions owing to ever so evolving international trade and commerce across the borders. Arbitration is perceived as a dominant method of resolving International trade disputes as it is expeditious in nature as compared to formal court proceedings and can be enforced in other countries. In recent past, upsurge in globalization and international trade has paved way for commercial contracts between Indian & Foreign Companies. These commercial contracts are becoming more international in character owing to a global integration.