Legal analysis on the enforcement of international arbitral awards and its challenges in Indonesia = Analisa hukum atas penegakan penghargaan arbitral internasional (international arbitral awards) di Indonesia
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Institusion
Universitas Pelita Harapan
Author
Walia, Grace
Subject
K Law (General)
Datestamp
2023-10-04 08:29:11
Abstract :
Indonesia is a developing country that relies on foreign trade and investment to drive economic growth and globalization. This investment involves commercial relations where disputes are unavoidable and are more likely to be resolved through informal and personal means such as arbitration and other alternative dispute resolution methods. When an arbitration dispute has taken place, the tribunal / arbiter makes an official document known as the award, which states their declaration. The award must then be upheld where the assets of the losing party are located. UU no. 30/1999 concerning Indonesian Arbitration Law regulates arbitration in Indonesia and enforcement of arbitration awards; However, it has two different enforcement periods for awards that are domestic and international. In addition, it does not define international awards, nor does it provide a specific deadline for registration or enforcement. Enforcement can be rejected on the basis of public policy, however, public policy itself is not defined in the law. With all this considered, this thesis will make an analysis of the process of enforcing international awards and how it has created uncertainty and decreased guarantees among foreign investors who wish to invest in Indonesia. This will conclude that it is important for the law to provide definitions of international awards and Indonesian public policy, and for him to state the deadline for enforcement and registration of international awards. In addition, he will recommend legislation to have the same enforcement process for domestic and foreign awards that will promote a friendly and non-discriminatory reputation for improving foreign investment in Indonesia, ultimately, driving globalization.
Indonesia is a developing country that relies on foreign trade and investment to drive economic growth and globalization. This investment involves commercial relations where disputes are unavoidable and are more likely to be resolved through informal and personal means such as arbitration and other alternative dispute resolution methods. When an arbitration dispute has taken place, the tribunal / arbiter makes an official document known as the award, which states their declaration. The award must then be upheld where the assets of the losing party are located. UU no. 30/1999 concerning Indonesian Arbitration Law regulates arbitration in Indonesia and enforcement of arbitration awards; However, it has two different enforcement periods for awards that are domestic and international. In addition, it does not define international awards, nor does it provide a specific deadline for registration or enforcement. Enforcement can be rejected on the basis of public policy, however, public policy itself is not defined in the law. With all this considered, this thesis will make an analysis of the process of enforcing international awards and how it has created uncertainty and decreased guarantees among foreign investors who wish to invest in Indonesia. This will conclude that it is important for the law to provide definitions of international awards and Indonesian public policy, and for him to state the deadline for enforcement and registration of international awards. In addition, he will recommend legislation to have the same enforcement process for domestic and foreign awards that will promote a friendly and non-discriminatory reputation for improving foreign investment in Indonesia, ultimately, driving globalization.
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