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Welcome To Contract Easily! ( Consult, Contract, Share,download Legal Matters Easily )
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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 Two out of the Three Arbitrators:
This document is utilized in arbitration proceedings involving three arbitrators, where a decision is reached by a majority of two arbitrators. Here's a brief guide for drafting this award:
Title and Identification: Clearly title the document as "Arbitral Award by Two out of the Three Arbitrators." Include the names of the arbitrators, parties involved, and the case reference.
Background and Reference: Summarize the key facts, claims, and counterclaims, providing a brief overview of the dispute that led to arbitration.
Legal Framework: Establish the legal framework governing the arbitration process, citing applicable arbitration rules and laws.
Majority Findings: Clearly outline the majority findings and conclusions reached by the two arbitrators, specifying the grounds for their decision.
Dissenting Opinion, if any: If applicable, address any dissenting opinions or reservations expressed by the third arbitrator, providing a complete picture of the decision-making process.
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.
Omission of Key Findings: Address all key findings and conclusions comprehensively, leaving no room for ambiguity or misunderstanding.
Unclear Attribution of Statements: Clearly attribute statements or opinions to the majority arbitrators and the dissenting arbitrator to avoid confusion.
Failure to Address Dissenting Opinions: If applicable, acknowledge and address dissenting opinions to provide a transparent record of the decision-making process.
By adhering to these guidelines and avoiding common mistakes, a well-drafted Arbitral Award by Two out of the Three Arbitrators ensures a clear, consistent, and legally sound resolution to disputes in arbitration proceedings involving a three-member arbitral tribunal. This type of award is commonly used in complex commercial arbitrations and international disputes.