2015 MLD 1646  PLD 2006 p.C 196  PLD 1981 p.C. 553  2018 CLC Islamabad 877  1982 CLC 301, 1990 MLD 857 (the court refused to enforce the award on the record that the arbitration agreement was vague and uncertain and that the parties had not imposed stamp duty on foreign distinction under Pakistani law. This shows procedural errors). Does your national right of arbitration or the aforementioned rules of national arbitration institutions provide an emergency arbiter before the Constitution of the Court of Arbitration? While they clashed with Store Enso Transport – Distribution Ltd., M-J Polymers Ltd. against Imerys Minerals Ltd., Cavendish Square Holding BV/Talat El Makdessi, Philips Hong Kong Ltd v. Attorney General of Hong Kong, Prenalta Corporation v. Colorado Interstate Gas Company, Universal Resources Corporation/Panhandle Eastern Pipe Line Company, Miraka Limited, and Churchill Falls (Labrador) Corporation Limited/Hydro Quebec,64 the Court held that “the take-or-pay clause, a common provision in commercial contracts, particularly gas sales contracts, is valid and applicable and cannot be considered a punitive provision.” The judgment requires that the contractual agreement be respected and that a party not allow the transaction to be amended to avoid liability. It would improve the privacy of commercial contracts and create a business-friendly environment for both local and foreign investors. RECONNAISSANCE AND ENFORCEMENT (ARBITRAGE AGREEMENTS AND FOREIGN ARBITRAL AWARDS) ACT, 2011 Courts also recognize that a party may waive its right to impose an arbitration agreement (General Supervisory Society SA (SGS) /Pakistan, 2002 SCMR 1694). This is particularly the case under the Arbitration Act, which requires a party who wants to ignore the arbitration process to apply before “taking a step in a process” (section 34 of the Arbitration Act).
The award must be in line with the time set in the parties` agreement. If the parties have not given their explicit consent, it is presumed that the award will be handed down within four months of the date the arbitrator will refer the reference or has been asked to act (first time in the arbitration law). The period may be extended with the consent of the parties (which may be implicitly as a result of procedural conduct) or, on the other hand, the court may authorize extensions. A provision of the arbitration agreement that allows the court to extend the period without the consent of the parties is non-applicable and ineffective (section 28). An arbitral tribunal does not have the power to consolidate separate arbitration procedures; Nor does the Arbitration Act provide for such circumstances. If all parties to separate proceedings agree to consolidate the proceedings with the arbitrator`s consent, there is nothing in the law that can prevent such a situation. Counsel for the respondent argued that, in light of Sections 2 (e), 19 6, 7 and 8 of the 2011 Act, the High Court was exclusively competent for the recognition and enforcement of foreign arbitration awards and that the 1940 Act did not apply to foreign distinctions. Section 2 specifies that a foreign arbitration award is taken in a contracting state, that is, London, and that the High Court is the Court of Execution. Section 6 provides that a foreign distinction is recognized and executed in accordance with the order of the High Court. Section 7 specifies that public procurement must be recognized and enforced in accordance with Article V of the Convention; and Section 8 provides that if there is a disagreement between the act, the law or a court judgment, Article V of the Convention prevails. Counsel argued that, in Taisei, the court found that the arbitral award at issue was a national arbitral award and that the 1940 Act applied to national distinctions; that there is no ambiguity in the law and that the complainant did not challenge a provision of the 2011 Act, so that a harmonious construction is not necessary.