Arbitration Act · 2024 Revised Edition · Part · Award
37. Award by consent
Official textFrom Attorney General's Chambers, unchanged
If, during arbitration proceedings, the parties settle the dispute, the arbitral tribunal shall terminate the proceedings and, if requested by the parties and not objected to by the arbitral tribunal, record the settlement in the form of an arbitral award on agreed terms.
arbitral tribunal
“arbitral tribunal” means a sole arbitrator, a panel of arbitrators or an arbitral institution;
An arbitral award on agreed terms —
award
“award” means a decision of the arbitral tribunal on the substance of the dispute and includes any interim, interlocutory or partial award, but excludes any order or direction made under section 28;
shall be made in accordance with section 38;
shall state that it is an award; and
shall have the same status and effect as any other award on the merits of the case.
Arbitration 30
An award on agreed terms may, with the leave of the Court, be enforced in the same manner as a judgment or order to the same effect, and where leave is so given, judgment may be entered in terms of the award.
Terms defined in s 2
arbitral tribunal
Defined · s 2“arbitral tribunal” means a sole arbitrator, a panel of arbitrators or an arbitral institution;
award
Defined · s 2“award” means a decision of the arbitral tribunal on the substance of the dispute and includes any interim, interlocutory or partial award, but excludes any order or direction made under section 28;
Part
Powers of Court in Relation to Award
Part