Common use of Nullification Clause in Contracts

Nullification. a. Either party to the dispute may request the annulment of an award, in whole or in part, on one or more of the following grounds, that: i. the Tribunal was not properly constituted; ii. the Tribunal has manifestly exceeded its powers; iii. there was corruption on the part of a member of the Tribunal or on the part of a person providing decisive expertise or evidence; iv. there has been a serious departure from a fundamental rule of procedure; or v. the award has failed to state the reasons on which it is based. b. The request shall be submitted for decision by a tribunal which shall be constituted and operate under the rules applicable to a dispute submitted under paragraph 1 of this article . c. Such a request must be submitted within 120 days after the date on which the award was rendered or after the discovery of the facts relevant to nullification on the grounds of corruption, whichever is later and, in any event, within five years after the date on which the award was rendered. d. The tribunal may nullify the award in whole or in part. If the award is nullified, the fact of nullification shall be communicated to the Parties Group. In such a case, the dispute may be submitted for decision to a new tribunal constituted under this Article or to any other available forum, notwithstanding the Contracting Parties waiver under paragraph 1.c. of this article.

Nullification. a. Either party to the dispute may request the annulment of an award, in whole or in part, on one or more of the following grounds, that: i. the Tribunal was not properly constituted; ii. the Tribunal has manifestly exceeded its powers; iii. there was corruption on the part of a member of the Tribunal or on the part of a person providing decisive expertise or evidence; iv. there has been a serious departure from a fundamental rule of procedure; or v. the he award has failed to state the reasons on which it is based. b. The request shall be submitted for decision by a tribunal which shall be constituted and operate under the rules applicable to a dispute submitted under paragraph 1 of this article . c. Such a request must be submitted within 120 days after the date on which the award was rendered or after the discovery of the facts relevant to nullification on the grounds of corruption, whichever is later and, in any event, within five years after the date on which the award was rendered. d. The tribunal may nullify the award in whole or in part. If the award is nullified, the fact of nullification shall be communicated to the Parties Group. In such a case, the dispute may be submitted for decision to a new tribunal constituted under this Article or to any other available forum, notwithstanding the Contracting Parties waiver under paragraph 1.c. of this article.