LUXEMBOURG Law and Practice Contributed by: Emilie Waty and Kloris Vjerdha, KLEYR_GRASSO
13.5 Binding of Third Parties As a general rule, third parties are not bound by an arbitration agreement or an arbitral award, as arbitra - tion is founded on the consent of the parties. Nonetheless, in circumstances where an arbitral award impacts third parties to the proceedings, Article 1244 of the NCCP provides that a third party may oppose the award that was rendered during the arbitration proceedings.
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