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Chapter Eight - The Award

Published online by Cambridge University Press:  05 June 2012

Margaret L. Moses
Affiliation:
Loyola University, Chicago
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Summary

Parties generally expect an arbitration to result in an award that will be final and binding. The widely accepted meaning of “award” is that it is the final decision by the arbitrators, dispositive of the issues in the case. Tribunals may issue “partial awards” or “interim awards,” however, which also may be final and binding on the parties. In addition, arbitrators may issue certain directions and orders during the course of the proceedings, which may be reviewable by the tribunal, and which do not constitute awards.

DIFFERENCE BETWEEN “ORDERS” AND “AWARDS”

Various laws, rules, and tribunals may use the terms “orders” and “awards” differently, but there are some generally accepted distinctions. The main difference between orders and awards is that orders are not usually reviewable by a court prior to the rendering of the final award, although they may be subject to review by the tribunal. Orders that are considered sufficiently final to permit judicial review, however, can in some instances be challenged in courts. In particular, orders for prehearing security have been found to be reviewable by some courts because of sufficient finality.

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Publisher: Cambridge University Press
Print publication year: 2012

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References

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Von Mehren, Robert 1983
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Platte, MartinAn Arbitrator's Duty to Render Enforceable Awards 20 2003
Lew, Mistelis, Kroll, 2003
Peter Berger, KlausInternational Arbitration Practice and the UNIDROIT Principles of International Commercial Contracts 46 1998
1994
Gotanda, Y.Awarding Costs and Attorneys Fees in International Commercial Arbitration 21 1999
Hanotiau, BernardThe Res Judicata Effect of Arbitral AwardsInternational Court of ArbitrationBulletin 2003Google Scholar
Born, Gary 2009
Knutson, RobertThe Interpretation of Arbitral Awards – When Is a Final Award Not Final? 11 1994
1978
2005
2008

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  • The Award
  • Margaret L. Moses, Loyola University, Chicago
  • Book: The Principles and Practice of International Commercial Arbitration
  • Online publication: 05 June 2012
  • Chapter DOI: https://doi.org/10.1017/CBO9780511920073.010
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  • The Award
  • Margaret L. Moses, Loyola University, Chicago
  • Book: The Principles and Practice of International Commercial Arbitration
  • Online publication: 05 June 2012
  • Chapter DOI: https://doi.org/10.1017/CBO9780511920073.010
Available formats
×

Send book to Google Drive

To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Google Drive.

  • The Award
  • Margaret L. Moses, Loyola University, Chicago
  • Book: The Principles and Practice of International Commercial Arbitration
  • Online publication: 05 June 2012
  • Chapter DOI: https://doi.org/10.1017/CBO9780511920073.010
Available formats
×