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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 Endorsed Memorandum Correcting Slip in Arbitral Award:
This document is utilized in arbitration proceedings when there are typographical errors, clerical mistakes, or omissions in the final arbitral award that need correction. Here's a concise guide for drafting this memorandum:
Title and Identification: Clearly title the document as "Endorsed Memorandum Correcting Slip in Arbitral Award." Include names of the parties, case reference, and details of the arbitration.
Identification of Errors: Explicitly identify the specific errors, omissions, or mistakes in the original arbitral award that require correction.
Legal Basis: Establish the legal basis for making corrections, referring to applicable arbitration rules and laws that permit the rectification of clerical errors.
Correction Procedure: Outline the procedure for correcting the identified errors, including any agreement between the parties or the need for the arbitral tribunal's approval.
Endorsement and Signatures: Clearly endorse the corrected portions of the award and include signatures of the arbitrators or parties involved to authenticate the corrections.
Common Mistakes to Avoid:
Failure to Clearly Identify Errors: Ensure precise identification of the errors, avoiding ambiguity and confusion in the correction process.
Lack of Legal Basis: Clearly cite the legal basis for making corrections to enhance the document's legal validity and acceptance.
Incorrect Correction Procedure: Follow the appropriate procedure for corrections, whether through mutual agreement, tribunal approval, or other specified means.
Ambiguous Endorsement: Clearly endorse the corrected portions, leaving no room for doubt about the intended corrections.
Neglecting Signatures: Ensure all relevant parties or arbitrators sign the endorsed memorandum to confirm agreement and authentication of the corrections.
By adhering to these guidelines and avoiding common mistakes, a well-drafted Endorsed Memorandum Correcting Slip in Arbitral Award facilitates the correction of inadvertent errors, promoting accuracy and clarity in the final award. This document is essential in maintaining the integrity of arbitral awards and is used in various arbitration contexts, including commercial and international disputes.