Bombay High Court Upholds Arbitral Award in Price Escalation Dispute Under FIDIC Contracts — Formula Interpretation Not Permissible When Language Is Clear. Court holds that a price escalation formula in a contract, being a mathematical expression, cannot be interpreted or varied by an arbitrator if its terms are unambiguous.
31 Mar 2017The judgment concerns two arbitration petitions arising from contracts between the Municipal Corporation of Greater Mumbai and two contractors, M/s. A...
