Practice of International Commercial Arbitration: A Handbook for Arbitrators and Arbitration Lawyers
| Practice of International Commercial Arbitration: A Handbook for Arbitrators and Arbitration Lawyers in Asia, 2nd Edition, (c) 2026 |
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CHAPTER 2
Theory
A tribunal is expected, many say that it has a duty, to produce an enforceable award. By itself, an award is just a piece of paper. It is worthless if it cannot be enforced elsewhere against a losing party and in effect converted to cash. But what makes an enforceable award? To put it another way, what is the source of an award's validity beyond the seat or jurisdiction in which the award was issued?