Award By Presiding Arbitrator Award

Arbitration – Its meaning

·         It is a reference to the decision of one or more persons in respect of a particular matter.

·         It is a substitution by consent of the parties of another tribunal other than the ones provided under the ordinary process of law.

Procedure of Arbitration

·         The claimant has to file his statement of claim and the respondent, his written statement.

·         The arbitrator may terminate the proceedings where the claimant fails to file his statement of claim in time without ‘sufficient cause’.

·         The arbitrator may proceed with the arbitration proceedings without the respondent, if the respondent does not file his written statement of defence in reply to the claimant’s statement in time.

·         The tribunal has the power of judicial review and can recall its order of termination of proceedings provided sufficient cause was shown. There is no right in the arbitrator to restore proceedings without sufficient cause. He becomes ‘functus officio’.

·         It is the duty of the arbitrator to treat each of the parties to the arbitration with equality. The arbitrator is bound to observe the principles of natural justice in conducting the proceedings.

·         The arbitral tribunal may appoint an Expert for help in the proceedings.

Award

An award is a final determination of a claim or a part of a claim by the Arbitral Tribunal. Under the Arbitration Act, 1940 an award was required to be filed in Court. However, this requirement has been done away with under the present Act. An award becomes binding on the expiry of 3 months from date of receipt of award by the parties.

Successive Awards: There may be as many awards as there are disputes out of the contract.

Contents of Arbitral Award

·         An Arbitral award must be in writing and signed by the members of the arbitral tribunal.

·         The award must state the reasons on which it is given except when the parties have agreed that no reason be given or when the award is on the agreed terms.

·         Date and place of the Arbitration must be mentioned in the award.

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