Recourse of an Arbitral Award in Bangladesh: Dissection Under The UNCITRAL, Foreign Laws and Precedents

Abstract

It is irrefutable that the arbitration process is controlled by arbitration seat law. Therefore, in the case of international commercial arbitration having the arbitration place in Bangladesh, and in the case of domestic arbitration that means where both parties are Bangladeshi, sections 42 and 43 of the Chapter VIII Arbitration Act 2001 lays down the rules in which applications can be lodged to set aside arbitral awards. Moreover, if the award contains some mistakes, the tribunal can correct an award by removing any clerical mistakes or errors under section 40 of the Arbitration Act 2001. This study was an attempt in the light of court rulings, article 33 and 34 of the UNCITRAL Model Law, 1985 and article 36 of the New York Convention, 1958 to critically examine section 40, 42 and 43 of the Arbitration Act 2001 of Bangladesh.