Financial Acts Package
R 385
International Arbitration Act, 2017 (Act No. 15 of 2017)Chapter 3 : Recognition and Enforcement of Arbitration Agreements and Foreign Arbitral Awards16. Recognition and enforcement of arbitration agreements and foreign arbitral awards |
| (1) | Subject to section 18 an arbitration agreement and a foreign arbitral award must be recognised and enforced in the Republic as required by the Convention, subject to this Chapter. |
| (2) | A foreign arbitral award is binding between the parties to that foreign arbitral award, and may be relied upon by those parties by way of defence, set-off or otherwise in any legal proceedings. |
| (3) | A foreign arbitral award must, on application, be made an order of court and may then be enforced in the same manner as any judgment or order of court, subject to the provisions of this section and sections 17 and 18. |
| (4) | Article 8 of the Model Law applies, with the necessary changes, to arbitration agreements referred to in subsection (1). |
