"Between what is fair and what is necessary": the reasoning of the arbitration award

Abstract

Despite the extensive development of arbitration in Peru, Peruvian arbitration practice still continues to struggle with the inclusion of defects in the reasoning as grounds for annulment of the Award. Although the doctrine indicates that the award can be annulled for some limited issues related to the motivation, there are still questions to be answered such as: what standard of motivation should Commercial Chambers apply to review the motivation of the award and whether it is possible to speak of good practices for the annulment of an award due to motivation. This article aims to answer these questions through a theoretical and practical analysis of the arbitration system and to analyze the evolution of the Peruvian system based on a jurisprudential review of the successes and failures of the Commercial Chambers