Abstract

'Public policy' and 'State intervention' can be seen as synonymous terms in context of enforcement of international arbitration awards. States may conveniently refuse to enforce awards relying on the public policy defence. Such possibilities are more apparent in the present times of economic nationalism as the protectionist regimes are taking over a more global outlook to commerce and investment. Therefore, if arbitration, as a dispute settlement mechanism has to survive and remain relevant, there is a need to narrow down the discretionary power at the disposal of the ...