International Arbitration Act · 2024 Revised Edition · Part · International Commercial Arbitration
28. Award by consent
Official textFrom Attorney General's Chambers, unchanged
If the parties to an arbitration agreement reach agreement in settlement of their dispute and the arbitral tribunal has recorded the terms of settlement in the form of an arbitral award on agreed terms in accordance with
arbitration agreement
“arbitration agreement” means a written agreement referred to in Article 7 of the Model Law and includes an agreement deemed or constituted under subsection (3) or (4);
Article 30 of the Model Law, the award —
Model Law
“Model Law” means the UNCITRAL Model Law on International Commercial Arbitration adopted by the United Nations Commission on International Trade Law on 21st June 1985, the text in English of which is set out in Schedule 1;
shall be treated as an award on an arbitration agreement; and
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 orders or directions made under section 15;
may, by leave of the High Court, be enforced in the same manner as a judgment or an order to the same effect, and where leave is so given, judgment may be entered in terms of the award.
Terms defined in this Act
arbitral tribunal
Defined · s 2“arbitral tribunal” means a sole arbitrator, a panel of arbitrators or a permanent arbitral institution;
arbitration agreement
Defined · s 2“arbitration agreement” means a written agreement referred to in Article 7 of the Model Law and includes an agreement deemed or constituted under subsection (3) or (4);
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 orders or directions made under section 15;
Model Law
Defined · s 2“Model Law” means the UNCITRAL Model Law on International Commercial Arbitration adopted by the United Nations Commission on International Trade Law on 21st June 1985, the text in English of which is set out in Schedule 1;