Taming the “Unruly Horse”: Nepal’s Arbitral Reform

In the contemporary landscape of international commercial arbitration (ICA), the principle of arbitral finality is the bedrock of global trade and foreign investment. For a country like Nepal seeking to attract international capital, the efficiency of the arbitral process relies on a singular premise: an award should be the end of a dispute, not a gateway to protracted litigation. This finality is established through a strictly circumscribed legal framework under the New York Convention (NYC) 1958 and the UNCITRAL Model Law 1985, under which judicial intervention is limited to ensuring a fair process, not re-examining the substantive merits of a case.