Awards, Orders and Other Types of Decisions

Abstract

Article 34: Awards, orders, decisions and rulings 34.1 In addition to making a final award, the arbitral tribunal may make interim, interlocutory or partial awards, orders, decisions and rulings. 34.2 When there is more than one arbitrator, any award, order, decision or ruling of the arbitral tribunal shall be made unanimously or, failing unanimity, by a majority of the arbitrators. 34.3 When the parties or the arbitral tribunal so authorize, the presiding arbitrator alone may make orders, decisions or rulings on questions of procedure, including exchanges of information, subject to revision by the arbitral tribunal. Article 35: Time, form and effect of award 35.1 The arbitral tribunal shall deliberate and issue its final award as soon as possible after the close of proceedings, and, unless otherwise agreed by the parties or determined by the Chamber, the final award shall be made no later than 60 days from the date of the close of proceedings. 35.2 Awards shall be made in writing, and the arbitral tribunal shall state the reasons upon which an award is based, unless the parties have agreed in writing that no reasons need be given. 35.3 A monetary award shall be in the currency or currencies of the contract unless the arbitral tribunal considers another currency more appropriate. 35.4 An award shall be signed by the arbitral tribunal and shall state the date on which the award was made and the place of arbitration pursuant to Article 19.Where there is more than one arbitrator and any of them fails to sign an award, the award shall include a statement of the reasons for the absence of such signature. 35.5 Awards shall be final and binding on the parties, who shall carry out any award without delay and, absent written agreement otherwise, waive irrevocably their right to any form of appeal, review, or recourse to any court or other judicial authority, insofar as such waiver can validly be made. 35.6 The arbitral tribunal shall retain for each of its members one signed original of the award, and shall transmit to the Chamber as many signed originals as there are parties, plus one signed original for the Chamber, which shall communicate the award to the parties as soon as practicable. 35.7 If the applicable law requires an award to be filed or registered, the arbitral tribunal shall use its best endeavors to cause such requirement to be satisfied. It is the responsibility of the parties to bring such requirements or any other procedural requirements of the place of arbitration concerning an award to the attention of the arbitral tribunal. Article 37: Interpretation or correction of the award 37.1 Within 30 days after the receipt of an award, any party, with notice to all other parties and to the Chamber, may request the arbitral tribunal to interpret the award or correct any clerical, typographical or computational errors or make an additional award as to claims or counterclaims presented in the proceedings but omitted from the award. 37.2 If the arbitral tribunal considers such a request justified after considering the contentions of the parties, it shall comply with such request within 30 days after receipt of the parties’ last submissions in respect of the requested interpretation, correction or additional award.Any interpretation, correction or additional award made by the arbitral tribunal shall be in writing and shall include reasons and shall form part of the award. 37.3 The arbitral tribunal on its own initiative may, within 30 days after the date of the award, correct any clerical, typographical or computational errors or make an additional award as to claims presented in the proceedings but omitted from the award. 37.4 The parties shall be responsible for all costs associated with any request for interpretation, correction or an additional award, and the arbitral tribunal may allocate such costs. Article 38: Settlement and other reasons for termination 8.1 If the parties settle the dispute before a final award is made, the arbitral tribunal shall terminate the arbitration and, if requested by all parties, may record the settlement in the form of an award on agreed terms, stating that the award is made by consent.The arbitral tribunal is not obliged to give reasons for such award. 38.2 If continuation of the arbitration becomes unnecessary or impossible for any other reason, the arbitral tribunal shall inform the parties of its intention to terminate the arbitration. The arbitral tribunal shall thereafter issue an order terminating the arbitration, unless a party raises justifiable grounds for objection. Article 34: Awards, orders, decisions and rulings 34.1 In addition to making a final award, the arbitral tribunal may make interim, interlocutory or partial awards, orders, decisions and rulings. 34.2 When there is more than one arbitrator, any award, order, decision or ruling of the arbitral tribunal shall be made unanimously or, failing unanimity, by a majority of the arbitrators. 34.3 When the parties or the arbitral tribunal so authorize, the presiding arbitrator alone may make orders, decisions or rulings on questions of procedure, including exchanges of information, subject to revision by the arbitral tribunal. Article 35: Time, form and effect of award 35.1 The arbitral tribunal shall deliberate and issue its final award as soon as possible after the close of proceedings, and, unless otherwise agreed by the parties or determined by the Chamber, the final award shall be made no later than 60 days from the date of the close of proceedings. 35.2 Awards shall be made in writing, and the arbitral tribunal shall state the reasons upon which an award is based, unless the parties have agreed in writing that no reasons need be given. 35.3 A monetary award shall be in the currency or currencies of the contract unless the arbitral tribunal considers another currency more appropriate. 35.4 An award shall be signed by the arbitral tribunal and shall state the date on which the award was made and the place of arbitration pursuant to Article 19.Where there is more than one arbitrator and any of them fails to sign an award, the award shall include a statement of the reasons for the absence of such signature. 35.5 Awards shall be final and binding on the parties, who shall carry out any award without delay and, absent written agreement otherwise, waive irrevocably their right to any form of appeal, review, or recourse to any court or other judicial authority, insofar as such waiver can validly be made. 35.6 The arbitral tribunal shall retain for each of its members one signed original of the award, and shall transmit to the Chamber as many signed originals as there are parties, plus one signed original for the Chamber, which shall communicate the award to the parties as soon as practicable. 35.7 If the applicable law requires an award to be filed or registered, the arbitral tribunal shall use its best endeavors to cause such requirement to be satisfied. It is the responsibility of the parties to bring such requirements or any other procedural requirements of the place of arbitration concerning an award to the attention of the arbitral tribunal. Article 37: Interpretation or correction of the award 37.1 Within 30 days after the receipt of an award, any party, with notice to all other parties and to the Chamber, may request the arbitral tribunal to interpret the award or correct any clerical, typographical or computational errors or make an additional award as to claims or counterclaims presented in the proceedings but omitted from the award. 37.2 If the arbitral tribunal considers such a request justified after considering the contentions of the parties, it shall comply with such request within 30 days after receipt of the parties’ last submissions in respect of the requested interpretation, correction or additional award.Any interpretation, correction or additional award made by the arbitral tribunal shall be in writing and shall include reasons and shall form part of the award. 37.3 The arbitral tribunal on its own initiative may, within 30 days after the date of the award, correct any clerical, typographical or computational errors or make an additional award as to claims presented in the proceedings but omitted from the award. 37.4 The parties shall be responsible for all costs associated with any request for interpretation, correction or an additional award, and the arbitral tribunal may allocate such costs. Article 38: Settlement and other reasons for termination 8.1 If the parties settle the dispute before a final award is made, the arbitral tribunal shall terminate the arbitration and, if requested by all parties, may record the settlement in the form of an award on agreed terms, stating that the award is made by consent.The arbitral tribunal is not obliged to give reasons for such award. 38.2 If continuation of the arbitration becomes unnecessary or impossible for any other reason, the arbitral tribunal shall inform the parties of its intention to terminate the arbitration. The arbitral tribunal shall thereafter issue an order terminating the arbitration, unless a party raises justifiable grounds for objection. 38.3 If the arbitration is terminated for any reason before a final award is made, the parties shall remain jointly and severally liable for the costs of arbitration specified in Articles 36.2(a), (b), (c), (e), (f), (g) and (h) until such costs have been paid in full. 38.3 If the arbitration is terminated for any reason before a final award is made, the parties shall remain jointly and severally liable for the costs of arbitration specified in Articles 36.2(a), (b), (c), (e), (f), (g) and (h) until such costs have been paid in full.