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It is often said that an arbitral award is worth only as much as the ability to secure its enforceability. To the extent the vast majority of prayers for relief in arbitration are for money damages, an arbitral award granting damages is worth only as much as the ability to obtain payment, voluntary or compulsory, of such damages.
The aim of the new publication, Evaluation of Damages in International Arbitration, prepared by the ICC Institute of World Business Law, is to give the reader a comprehensive overview of the difficulties encountered by arbitrators, governments and international organizations in calculating the amounts of recoverable damages in cases of international arbitration.
When determining recoverable damages, a number of sensitive questions are raised, among them:-