EFFECT OF FRAUD AND BRIBERY IN THE ENFORCEMENT OF ARBITRAL AWARD: THE CASE OF P & ID

Abstract

This research examined the effect of fraud and bribery in the enforcement of arbitral awards. The research in particular, took a cursory on the effect of fraud and bribery in the arbitration case of P & ID. The doctrinal method of research was adopted. The research discovered that the facts and circumstances of the P & ID case may provoke debate and reflection on the effect of fraud, bribery and corruption in arbitration proceedings among the arbitration community, state users of arbitration, and other courts with responsibility to supervise or oversee arbitration. It was recommended that there is need to give further attention in the enforcement of arbitral awards where allegations of bribery, corruption and fraud are raised especially, where the monetary value involved in the arbitration is so large and involves state and state actors. The research concluded that there should be transparency in contract-based investor–state arbitration to avoid government officials from corruptly enriching themselves from public funds.