Arbitral Awards
Although arbitration awards are characteristically an award of damages against a party, in many jurisdictions tribunals have a range of remedies that can form a part of the award. These may include:
- payment of a sum of money (conventional damages)
- the making of a "declaration" as to any matter to be determined in the proceedings
- in some jurisdictions, the tribunal may have the same power as a court to:
- order a party to do or refrain from doing something ("injunctive relief")
- to order specific performance of a contract
- to order the rectification, setting aside or cancellation of a deed or other document.
- In other jurisdictions, however, unless the parties have expressly granted the arbitrators the right to decide such matters, the tribunal's powers may be limited to deciding whether a party is entitled to damages. It may not have the legal authority to order injunctive relief, issue a declaration, or rectify a contract, such powers being reserved to the exclusive jurisdiction of the courts.
Read more about this topic: Arbitration