Federal Arbitration Act Grounds For Vacating Award In San Antonio
Description
Form popularity
FAQ
To vacate an award, the arbitrators must have known of a governing legal principle yet refused to apply it or ignored it, and the law ignored by the arbitrators must be clearly defined.
The statutory grounds for vacating an arbitration award under Section 10 of the Federal Arbitration Act and state counterparts are limited to matters such as arbitrator corruption, fraud, evident partiality, misconduct and exceeding of powers. These grounds do not go to the merits of the award.
The Court opined that the Federal Arbitration Act (FAA) establishes liberal federal policy favoring arbitration agreements, and such agreements may only be overridden when there is a contrary Congressional command. CompuCredit Corp. v. Greenwood, 132 S.
The Arbitration and Conciliation Act, 1996 Section 37 provides for filing of appeals against orders of the Court or for that matter an Arbitrator. Three Judges bench of the Supreme Court of India of Justices R.F. Nariman, Navin Sinha, and K.M.
A court may vacate an award only if it finds that one of the limited grounds in the FAA (9 USC section 10) applies, namely: the award is a result of corruption or fraud; there was evident partiality or corruption by an arbitrator; there was arbitrator misconduct; or.
Decisions indicate that a court may review an arbitrator's award if it appears that the arbitrator substituted his judgment for that of the parties, the award does not draw its essence from the contract, the award contains material error, and the award is against public law or policy.
The merits of the dispute are not considered and the award can only be vacated where: (1) the award was procured by fraud or corruption; (2) there was corruption in the arbitrator; (3) the arbitrator committed misconduct resulting in substantial prejudice; (4) the arbitrators exceeded their powers; (5) the arbitrator ...
(1) Recourse to a Court against an arbitral award may be made only by an application for setting aside such award in ance with sub-section (2) and sub-section (3). (ii) the arbitral award is in conflict with the public policy of India. (iii) it is in conflict with the most basic notions of morality or justice.
Section 144 deals with the rescission of arbitration awards and rulings. Any award may be varied or rescinded by the commissioner who issued the award or by any other commissioner appointed by the Director to do so. A party must apply for rescission.