Enforcing Monetary Awards in India: Navigating Forex Rates and Dates
With cross-border dispute resolution on the rise, currency variations and exchange rate fluctuations remain a concern in enforcement of foreign awards and decrees. It is not unusual for courts and arbitral tribunals to render judgments and awards in a foreign currency,1)For example, Section 48(4) of the UK Arbitration Act 1996 provides that: “The tribunal may…