Substantive Review of Arbitral Awards in International Commercial Arbitration Arbitration is a form of alternative dispute resolution, which enables the parties to resolve their dispute outside the courts. The advantage of arbitration is especially its speed and effectiveness in resolving the dispute. In general, arbitration awards in international commercial arbitration are final and binding on both parties and cannot be challenged by any form of appeal. This master thesis aims to find the answer to the question under which circumstances the parties to the arbitration proceedings may reach a substantive review of arbitral awards. The first part of the master thesis (chapters 2, 3 and 4) examines the approach of the UNCITRAL Model Law, the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards and the European Convention on International Commercial Arbitration to the substantive review of arbitral awards. The second part of the master thesis (chapters 5 and 6) deals with the legal framework for arbitration proceedings in the Czech Republic, Germany, Australia and the United Kingdom, with respect to the substantive review of arbitral awards. Using comparative method, the author compares the regulation of the arbitration proceedings in the selected jurisdictions. The last...

What is «liquidable» and how should this concept be faced by arbitrators and judges? Can an enforcement judge determine concepts such as costs, interests and/or penalties if the arbitral tribunal has not provided any parameters? What fundamental rights might be violated? In accordance with international arbitration practice, we will deal here with the problems arising from the division of functions between judges and arbitrators in relation to the enforcement of the «liquidable» concepts. / ¿Qué es lo «liquidable» y cómo debe ser este concepto enfrentado por los árbitros y jueces? ¿Puede un juez en ejecución determinar conceptos como costas, intereses y/o las penalidades sin que el tribunal arbitral le haya brindado ningún parámetro?¿Qué derechos fundamentales están en juego? En función de la práctica arbitral internacional, nos ocuparemos de los problemas que surgen por la división de funciones entre jueces y árbitros en relación con la ejecución de lo «liquidable».