How is the legal value of an arbitral award? Does one party, who disagrees with the arbitral award, have the right to bring a petition to the court?
The arbitral award is final, and all parties are bound by such award. If when the time-limit for carrying out an arbitral award expired, the award debtor has not voluntarily carried out the award and has not requested that the award be set aside, the award creditor shall have the right to request the competent […]