서강대학교

초록/요약

Arbitration is a method of disputes resolution involving one or more neutral third parties who are usually agreed to by the disputing parties and whose decision is binding. An arbitral award and a final and conclusive judgement of a court are same effective between the parties. The arbitral procedure does not include a separate relief procedure and does not permit that a party defeated appeals against the arbitral award. Application to set aside the award is known in Korea as cancellation of the award. According to the Korea Arbitration Act Art. 36 (1), recourse against an arbitral award may be made only by an application for setting aside to a court. Application for setting aside award to court under Art. 36 (1) related matters shall fall under the jurisdiction of the court as designated by an arbitration agreement, and failing such designation, under the competent court of the place of arbitration which is designated by an arbitration agreement. An application for setting aside the world may not be made by after three months have elapsed from the date on which the party making that application has received the duly authenticated copy of the award or the duly authenticated copy of a correction or interpretation or an additional award under Art. 34. According to the Korea Arbitration Act Art. 36 (2), a party may file a lawsuit for cancellation of an arbitral award on the following grounds. There are 4 grounds that the party making the application furnishes proof and 2 grounds that the court finds. First, a party was incompetent or the said agreement is not valid under the law to which the parties have subjected it or, failing any indication thereon, under the law of this State. Second, the party making the application was not given proper notice of the appointment of an arbitrator or of the arbitral proceedings or was otherwise unable to present his case. Third, the award deals with a dispute not contemplated by or not falling within the terms of the submission to arbitration, or contains decisions on matters beyond the scope of the submission to arbitration. Fourth, the composition of the arbitral tribunal or the arbitral procedure was not in accordance with the agreement of the parties or Korea Arbitration Act. Fifth, the subject-matter of the dispute is not capable of settlement by arbitration under the law of this State. Lastly, the award is in conflict with the public policy.