The NIOC and the CPCI entered into a long-term gas supply and purchase contract (the "GSPC") on 25 April 2001. The two parties agree to govern this contract by the Laws of Islamic Republic of Iran. In addition, this contract contained an agreement "…any dispute arising out of or relating to this contract shall be finally settled by arbitration before three arbitrators" and the parties chose London as an arbitral seat. Furthermore, in 2003 the CPCI assigned the contract to Crescent Gas, which is its …show more content…
On 4 March 2016, nevertheless; the commercial court by Mr. Justice Burton refused to set aside the award.
According to this case, several important legal principles of the international commercial arbitration had been discussed. First of all, an arbitration agreement is considered separately from the main contract, although it is a part the contract. An additional doctrine arisen from this case is that even if there is no written copy form of consent provided to another party, the assignment of contract is valid. Finally, regarding to English public policy, a contract procured by bribery can still be enforceable because there is no rule to refuse enforcement of that contract in the English public