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Does Arbitration Award Require Confirmation Of Civil Court?
There was a MOU between two parties having Arbitration clause therein. Regarding a dispute one of the party approached an arbitrator and an arbitration award was passed for the same. Does that party require a confirmation from civil court for executing the said award and if it is to be confirmed from the civil court then under which provision?
Award passed by Arbitrator is just like a decree and can be executed in a similar manner as a decree is executed.Award passed under the provisions of Arbitration and conciliation Act does not require any confirmation from civil court.