Arbitral award

Introduction

Although arbitral award is the key notion for international commercial arbitration, there is usually no definition in national arbitration laws or arbitration rules. Only the requirements for arbitral awards are specified. Arbitral award can be characterised as a decision of arbitrators deciding finally on all or any of the claims, on procedural issue which terminates the proceedings or containing the settlement between the parties. There are several types of awards that are used in international commercial arbitration (final, partial, interim, consent). In most states arbitral awards have similar effects as court judgments.

The aim of this chapter is to analyse the issue of arbitral awards. After going through this chapter a student should be able: to define arbitral award; to specify typical requirements for arbitral awards; to distinguish awards from other decisions of arbitrators; to name the types of awards; to explain the effects of arbitral awards.

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Arbitral award
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Arbitral award
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Further recommended sources – books

  • BINDER, P. International Commercial Arbitration and Mediation in UNCITRAL Model Law Jurisdictions. Kluwer Law International, 2019. Part A, Chapter VI.
  • BLACKABY, N., PARTASIDES, C., REDFERN, A., HUNTER, M. Redfern and Hunter on International Arbitration. 6th ed. Oxford: Oxford University Press, 2015, Chapter 9.
  • BORN, G. B. International Commercial Arbitration. 2nd ed. Kluwer Law International, 2014, Chapters 22–24.
  • GAILLARD, E., SAVAGE, J. Fouchard Gaillard Goldman on International Commercial Arbitration. Kluwer Law international, 1999, Part 4, Chapter IV.
  • LEW, J.D.M., MISTELIS, L. A., KRÖLL, S.M. Comparative International Commercial Arbitration. The Hague: Kluwer Law International, 2003, Chapter 24.
  • MARCHISIO, G. The Notion of Award in International Commercial Arbitration: A Comparative Analysis of French Law, English Law, and the UNCITRAL Model Law. Kluwer Law International, 2017.
  • MOSES, M.L. The Principles and Practice of International Commercial Arbitration. 3rd ed. Cambridge: Cambridge University Press, 2017. Chapter 8.

Further recommended sources – Articles, papers, electronic sources

  • Dossier of the ICC Institute of World Business Law: Parallel State and Arbitral Procedures in International Arbitration. 2005.
  • Kluwer Arbitration [online]. Available from: http://www.kluwerarbitration.com/