International Arbitration Act · 2024 Revised Edition · Part · International Commercial Arbitration
31. Effect of award
Official textFrom Attorney General's Chambers, unchanged
An award made by the arbitral tribunal pursuant to an arbitration agreement is final and binding on the parties and on any persons claiming through or under them and may be relied upon by any of the parties by way of defence, set-off or otherwise in any proceedings in any court of competent jurisdiction.
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;
Except as provided in Articles 33 and 34(4) of the Model Law, upon an award being made, including an award made in accordance with section 30, the arbitral tribunal shall not vary, amend, correct, review, add to or revoke 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;
For the purposes of subsection (2), an award is made when it has been signed and delivered in accordance with Article 31 of the Model Law.
This section shall not affect the right of a person to challenge the award by any available arbitral process of appeal or review or in accordance with the provisions of this Act and the Model Law.
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;