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According to Section Four of the Agreement (Price and Condition of Payment)
stipulates as follows:
The parties agree that:
(1) On Prospective Buyer’s having paid Prospective Seller according to the amount

and at time schedule in Section 3.1, 3.2 and 3.3, they agree to register a transfer of the title to the
Condominium Unit hereunder at Bangkok Metropolis Land Office on the date and at the time
specified by Prospective Seller. In addition, pursuant to Section 213 of the Civil and Commercial
Code of Thailand “if a debtor fails to perform his obligation, the creditor may make a demand for
compulsory performance, except where the nature of the obligation does not permit it.”
Although the creditor may bring an action to court to enforce its right provided in the
Agreement between the parties, it may choose to submit its dispute to arbitration and in this case
there is an arbitration clause in the Agreement to settle the dispute between them by arbitration.
Thus, similar to the Court of Justice, the Arbitral Tribunal has an authority to render

an award as follows:
1) The arbitral tribunal can order the Respondent to perform its obligation through
compulsory performance.
2) If, however, the Respondent does not fulfill its obligation, the Claimant may
rescind the contract after fixing a reasonable period and notifying him to perform the obligation
within that period (Section 387 of the Civil and Commercial Code of Thailand) and then the Claimant
may demand the Respondent to pay his damages.
According to Section 391 paragraph 1 of the Civil and Commercial Code of Thailand

if one party has exercised his right of rescission, each party is bound to restore the other party to his
former condition. Therefore, the Respondent has to return the purchase price of the Condominium
paid by the Claimant to the Respondent, namely the amount of Baht 36,500,000. In addition, it has
to pay interest of 15% per annum on the principal sum of Baht 36,500,000, calculated from the date
of when the money was received (Section 391 paragraph 2).
Therefore, the arbitrator awarded that
1) The Respondent has to carry out the registration the transfer the title of ownership
of the disputed Condominium with free of mortgages and other obligations and commitments to
the Claimant, by going to the Land Department to transfer such title within 30 days from the date

on which a copy of the award reaches the Respondent.
2) If the respondent cannot do so (as stipulated above), the Respondent shall have
to pay the Claimant the amount of 36,500,000 Baht (Thirty Six Million and Five Hundred Thousand
Baht) as well as interest at the rate of 15% (fifteen percent) per annum on the principal sum of
36,500,000 Baht, calculated from the date of June 2012, which is the date of transfer confirmed by
the Respondent in its letter till payment.

Sources

Case No (Black) 91/2557
Relevant Laws : Section 8,213, 387, 391 of the Thai Civil and
Commercial Code.
Arbitrator : Professor Dr. Saowanee Asawaroj
Summarized by : Rujira Chivalak