It is often said that an arbitral award is worth only as much as the ability to secure its enforceability. To the extent the vast majority of prayers for relief in arbitration are for money damages, an arbitral award granting damages is worth only as much as the ability to obtain payment, voluntary or compulsory, of such damages.
The aim of the new Dossier, prepared by the ICC Institute of World Business Law, is to give the reader a comprehensive overview of the difficulties encountered by arbitrators, governments and international organizations in calculating the amounts of recoverable damages in cases of international arbitration.
When determining recoverable damages, a number of sensitive questions are raised, among them:
There is a need for both arbitrators and practitioners to understand these issues and to formulate answers to the questions raised. The present volume, written by expert arbitrators and practitioners, many of whom are affiliated with ICC’s renown Court of Arbitration, covers these and other vital issues and proposes practical solutions for resolving them.
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