RECOGNITION AND ENFORCEMENT OF INTERNATIONAL COMMERCIAL ARBITRATION AWARD IN NIGERIA AND IN INDIA: A CASE STUDY

Abstract

Recognition and Enforcement of International Commercial Arbitration Award in Nigeria and in India has to follow the legal steps as is enshrined in the various Laws of these Nations, Conventions and Treaties before the recognition and the enforcement of such an International Arbitration Award. International Commercial Arbitration proceedings were calculated and designed to support international trade and commerce and to promote commercial relationship between Nigerians and/or Indians, foreign nationals and foreign companies by providing for a speedy settlement of any disputes that would arise in the course of such trade and commerce through arbitration. It is therefore, necessary to give the term “Commerce” a wide and literal interpretation, so as to include relationships that support purely mercantile transactions within its ambit. This would also allow for a larger number of disputes to be settled through arbitration in a quick and efficient manner. Whereas recognition of an award is on its own a defensive process and arises where an unsuccessful party commences suit regarding main issue of difference, as if nothing has been done to resolve the dispute in a judicial manner. In such a situation, the parties on which side the decision was rendered would apply to the court to recognize the award and declare it valid and binding.