Law of international commercial arbitration Essay - 1

Law of international commercial arbitration - Essay Example Thus, if an aggrieved party has a binding international award in the case of any business dispute from another nation which is a party to the NYC and is being acknowledged as a responding nation by UK, the arbitral award would be implemented in UK. (Hirchhheim et al 154). In UK, a winning party might request to have the New York Convention award implemented in the same style as a judgment through the mechanism of the Arbitration Act, 1996. This mechanism is intended to give effect for the convention obligation of the UK to acknowledge and implement New York Convention awards subject to some restricted exclusions. It is to be noted that pure declaratory awards will equally applicable to the implementation of a New York Convention award under s.101 (2) of the Arbitration Act 1996. Further, enforcement can be disputed on the same footing as recognition. If a party wants to implement and enforce an international arbitration award in UK, he has to make necessary application to the concerned court with copy of the award and the arbitration agreement in writing within the connotation of ss.100 and 5 of the Arbitration Act, 1996. However, the party need not have to substantiate the existence or validity of an agreement. Further, the reasons for the declining the recognition and implementation should be interpreted narrowly. â€Å"The New York convention’s Article V† obliges the courts of signatory nations to implement an overseas award without evaluating the merits of the arbitrator’s verdict. For instance, English Court has refused to interfere in international arbitration awards as demonstrated in the decision made in â€Å"Lesotho Highlands Development Authority v. Impreglio SpA and others â€Å"by the House of Lords. Lesotho government engaged contractors to build a dam in Lesotho. The contract specifically stated that currency for the contract purpose will be the maloti, the local currency of Lesotho

HIM 330 Essay Example | Topics and Well Written Essays - 250 words

HIM 330 - Essay Example necessary for requirements elicitation, based on the above stated problem, and finally, the paper will give an example of catastrophic software failure resulting from bad feasibility study. The different aspects of feasibility studies to be looked at include schedule feasibility, economic feasibility, technical feasibility and operational feasibility. Operational feasibility will be conducted by looking at whether the users like the new system, whether the users have to be trained first, whether users will be demanded to have some new ways of operating and whether customers will be comfortable with the new systems. If training will be required, it is important for the company to evaluate its cost, so that it does not become a huge economic burden. If the system will assure patients of security and privacy of their medical records, then it will be feasible. Therefore, each of these has to be evaluated. As far as the technical feasibility is concerned, the company has to evaluate whether it has enough network, software and hardware resources to establish the system. Apart from having these resources, it also has to see whether it has the necessary technical expertise. The functionality, performance and environmental consequences of the available resources also have to be evaluated. If the company will find it hard to get all these requirements, then it may not be feasible for it to go ahead with the setting up of the system. If the resources will not work well with the existing systems or if they will have environmental effects, then the project may not be feasible. Under economic feasibility, the company will be required to estimate consultation expenses, the cost of facility and the estimated cost of not putting in place the system so as to weigh whether the cost of developing it is higher than that of not developing it. If it can reduce the labor cost, then it is feasible. Last, as far as schedule feasibility, the company has to determine whether there are