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Stamp paper is not included with this agreement and is for illustration purposes only. If e -stamp is applicable in your city you can order it during checkout.
Stamp paper is not included with this agreement and is for illustration purposes only. If e -stamp is applicable in your city you can order it during checkout.
Guideline for Drafting Arbitral Award by Three Arbitrators:
This document is essential in arbitration proceedings where three arbitrators collaborate to reach a joint decision. Here's a concise guide for drafting this award:
Title and Identification: Clearly title the document as "Arbitral Award by Three Arbitrators." Include names of the parties, case reference, and details of the arbitration.
Introduction and Tribunal Identification: Begin with an introduction, identifying each arbitrator and emphasizing the collaborative nature of the decision-making process.
Background and Reference: Provide a concise overview of the dispute, outlining the claims, counterclaims, and key issues presented during the arbitration proceedings.
Legal Framework: Establish the legal framework governing the arbitration process, citing relevant arbitration rules and laws applicable to the case.
Joint Findings and Conclusions: Clearly outline the joint findings and conclusions reached by the three arbitrators on the merits of the dispute.
Common Mistakes to Avoid:
Inconsistent Language: Ensure consistency in language and tone throughout the award to present a unified and coherent document.
Neglecting Legal Framework: Clearly identify the arbitration rules and laws governing the proceedings to avoid challenges to the validity of the award.
Ambiguous Findings: Use precise language in presenting joint findings to avoid confusion or misinterpretation by the parties.
Neglecting Evidence: Consider all relevant evidence presented during the arbitration process to make well-informed joint findings.
Lack of Clarity in Conclusions: Clearly articulate the joint conclusions on the merits of the dispute, providing transparency in the decision-making process.
By adhering to these guidelines and avoiding common mistakes, a well-drafted Arbitral Award by Three Arbitrators ensures a clear, consistent, and legally sound resolution to disputes in arbitration proceedings involving a panel of arbitrators. This type of award is commonly used in complex commercial arbitrations and international disputes.