Versions

 

50. Form and contents of award

(1) The award shall be made in writing.
(2) The award shall state the reasons upon which it is based, unless the parties have agreed that no reasons are to be given or the award is an award on agreed terms under section 48.
(3) The award shall state its date and the seat of the arbitration as determined in accordance with section 32(1). The award shall be deemed to have been made at the seat of the arbitration, irrespective of where it is written or signed.
(4) After the award is made, a copy shall be delivered to each party.
(5) The arbitral tribunal shall fix the costs of the arbitration in its award or as provided for in subsection (7) below. The term "costs" includes only:
(a) the fees of the arbitral tribunal to be stated separately as to each arbitrator;
(b) the properly incurred travel and other expenses incurred by the arbitrators;
(c) the costs of expert advice and of other assistance reasonably required by the arbitral tribunal;
(d) the travel and other expenses of witnesses to the extent such expenses are approved by the arbitral tribunal;
(e) such other costs as are necessary for the conduct of the arbitration, including those for meeting rooms, interpreters and transcription services;
(f) the costs for legal representation and assistance of the successful party if such costs were claimed during the arbitration, and only to the extent that the arbitral tribunal determines that the amount of such costs, or a part of them, is reasonable; and
(g) any fees and expenses of any arbitral institution or appointing authority.
(6) In fixing the costs of the arbitration, the arbitral tribunal may direct to whom, by whom, and in what manner, the whole or any part of the costs shall be paid.
(7) If the arbitral tribunal does not fix the costs of the arbitration in its award, a party to the arbitral proceedings may, within 30 days of receiving the award, apply to the arbitral tribunal for a further award on costs. After hearing the parties, the arbitral tribunal shall make a further award on costs.
(8) Subject only to sections 53 and 57, all awards made by the arbitral tribunal shall be final and binding on the parties.