👉The Final Award is the key decision in an arbitration that has important consequences, in the sense that it is the end outcome of a controversy, or a dispute submitted to an arbitral tribunal or a sole arbitrator, and it will affect the rights between the parties and may not normally be appealed.

👉In addition to resolving the legal or factual differences between the parties, the Final Award may also decide upon the interpretation of contract terms or determine the respective rights and obligations of the parties to a contract.

👉A final award should state basic information, such as the identification of the arbitrators, the identification of the parties and their legal representatives, the terms of the arbitration agreement, the basis of jurisdiction of the tribunal, the place of the arbitration, the applicable laws to the merits and the procedure and the language of the proceedings.

👉Then, the main content of the award should record the claims and defences of the parties, the tribunal’s conclusions on the issues and its reasoning, and finally a dispositive part where the tribunal states its decisions on damages, interest and the award of costs.

👉The award should be concise and must be confined to the points that need to be decided to reach its final conclusions. Wherever possible, the award ought to use simple, but precise language and terms, avoiding legal or technical jargon which might be difficult to understand.

👉The arbitrators should bear in mind that they are rendering an award to the parties, but especially to the losing party, and ultimately to the national court of enforcement. Expressing the same points of reasoning in different ways can be confusing and can lead to doubt or ambiguity.

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