Disputes settlement in International business

 

How to settle dispute in Import and Export?

InclusDisputes settlement in International businession of Future Dispute Clause: While entering into export contract, suitable for referring the future disputes indicating the name of arbitrator, venue of arbitration and applicability of law may be incorporated to protect mutual interests. In case the arbitration clause is not included in the export contract. Originally, a subsequent written agreement may be entered into, referring to the earlier contract. The later agreement is called ‘Submission agreement.

Low for Enforcement of Foreign Awards in India

India is a party to International Conventions. Countries, which are members to the International Conventions, have to pass the necessary legislation for enforcement. Accordingly, Foreign Awards Recognition and Enforcement.) Act, 1961 has been passed.

Procedure for Enforcement in India: Any person interested in the award can pray the court, having jurisdiction, for filing the award. After giving notice to the parties why the award should not be filed, court pronounces the judgment according to the award, if the court is satisfied that the foreign award is enforceable under the above Act. Upon the judgment so pronounced, decree shall follow. No appeal can lie except when the judgment is in excess or not in accordance with the award.

Enforcement of Indian Awards in Foreign Countries

It is understood that awards made in India are enforceable in Foreign Countries, similarly, if the other country is a member of International Conventions. Where the other country is not a member of the International conventions or does not adhere to similar international regulations, enforcement of arbitration is beset with more difficulties.

 

 

Types of Insurance Documents.

What is VACIS exam in US import customs clearance

When can an exporter release bill of lading from shipping company?

When does exporter get EP copy of shipping bill after customs clearance

Terms of Payment in Export and Import

Terms Used in Marine Insurance

The difference between FCA and CIP terms

The formalities to sell / auction unclaimed or un-cleared goods

The legal strength of Bill of Exchange in International Trade. What is Bill of Exchange in International Trade.

The role of bill of exchange in import export business

The role of CBEC - Central Board of Excise and Customs in India.

The role of Export Inspection Agency in Pre-shipment Inspection & Quality Control

The role of Reserve Bank of India

The Role of the International Chamber of Commerce (ICC)

Can a person without GST registration claim ITC?

Why separate Registration of GST in each state in India, for each business.

Latest date to file GST registration in India


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers