Arbitration Award - Nomenclature

Nomenclature

Although it is common to talk of an arbitration award as a single concept, in most legal jurisdictions there are several sub-categories of award.

1. a provisional award is an award on a provisional basis subject to the final determination of the merits.
2. a partial award is an award of only part of the claims or cross claims which are brought, or a determination of only certain issues between the parties. Importantly, this leaves it open to the parties to either resolve or to continue to arbitrate (or litigate) the remaining issues.
3. an agreed award is usually in the form of a settlement between the parties of their dispute (the equivalent of a judgment by consent). But by embodying the settlement in the form of an award it can have a number of advantages.
4. a reasoned award is not a sub-category of award, but is used to describe an award where the tribunal sets out its reasoning for its decision.
5. an additional award is an award which the tribunal, by its own initiative or on the application of a party makes in respect of any claim which was presented to the tribunal but was not resolved under the principal award.
6. a draft award is not an award as such, and is not binding on the parties until confirmed by the tribunal.