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The form of an Award - Nerine - 05-26-2021
What Will the Arbitrator’s Final Award Look Like?
Generally, an arbitration proceeding concludes with the publication and transmittal of the arbitrator’s final award. The arbitrator’s final award may direct one or more parties to pay another party a monetary amount, or the award may direct the parties to take some other specific action based on the issues presented to and decided by the arbitrator. While most parties will voluntarily comply with the arbitrator’s final award, a court having the appropriate jurisdiction can enter a judgment on the award if one party fails or refuses to comply with the award.
The form of the arbitrator’s final award may vary depending on the rules governing your arbitration. If your arbitration is administered by the American Arbitration Association (AAA), there are 3 types of award: (1) standard award, (2) reasoned award, and (3) findings of fact and conclusions of law...
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