Krohne (Pty) Ltd v Strategic Fuel Fund Association (476/2023)
Krohne (Pty) Ltd v Strategic Fuel Fund Association (476/2023) [2024] ZASCA 99 (14 June 2024)
The Supreme Court of Appeal held that the high court erred in dismissing the appellant's claim on a point in limine. The parties had agreed in the interim award that the findings of the independent expert would be final and binding. The SGS report constituted the cause of action, and the appellant's claim was founded on that report. The high court misconstrued the issue by focusing on the validity of the interim award rather than whether the SGS report satisfied the agreed condition precedent for payment. The interim award, as defined by the Arbitration Act, was valid, and the settlement agre…
Source excerpt
- Arbitration Act 42 Of 1965
- Enforcement Of Arbitral Award
- Settlement Agreement
- Expert Determination
- Cause Of Action
- Interim Award