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The requirements of the Award are dependant usually on two matters. Firstly, the arbitration agreement, and secondly the law governing the arbitration.
This means that one should always check the institutional rules (if any) that may specific what the Award needs to contain. Here are two very different requirements by different rules.
UNCITRAL 2013 Rules
- All arbitration awards shall be made in writing.
- The arbitral tribunal shall state the reasons upon which the award is based, unless the parties have agreed that no reasons are to be given.
- An award shall be signed by the arbitrators and it shall contain the date on which the award was made and indicate the place of arbitration. Where there is more than one arbitrator and any of them fails to sign, the award shall state the reason for the absence of the signature.
- An award may be made public with the consent of all parties or where and to the extent disclosure is required of a party by legal duty, to protect or pursue a legal right or in relation to legal proceedings before a court or other competent authority.
- Copies of the award signed by the arbitrators shall be communicated to the parties by the arbitral tribunal.
- The arbitration award shall be in writing and shall contain:
- a precise designation of each party;
- a statement that the Tribunal was established under the Convention, and a description of the method of its constitution;
- the name of each member of the Tribunal, and an identification of the appointing authority of each;
- the names of the agents, counsel and advocates of the parties;
- the dates and place of the sittings of the Tribunal;
- a summary of the proceeding;
- a statement of the facts as found by the Tribunal;
- the submissions of the parties;
- the decision of the Tribunal on every question submitted to it, together with the reasons upon which the decision is based; and
- any decision of the Tribunal regarding the cost of the proceeding.
- The award shall be signed by the members of the Tribunal who voted for it; the date of each signature shall be indicated.
- Any member of the Tribunal may attach his individual opinion to the award, whether he dissents from the majority or not, or a statement of his dissent.
In respect of local laws dealing with the arbitration for example, the English Arbitration Act 1996 provides that awards must comply with the below;
- The parties are free to agree on the form of an award.
- If or to the extent that there is no such agreement, the following provisions apply.
- The award shall be in writing signed by all the arbitrators or all those assenting to the award.
- The award shall contain the reasons for the award unless it is an agreed award or the parties have agreed to dispense with reasons.
- The award shall state the seat of the arbitration and the date when the award is made.
It is clear that there are varying rules by different laws and institutions. What is important is that the Awards are made in compliance with both, so to limit any arguments that the Award is void or unenforceable due to invalidity or procedural irregularity.
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