Award - UNCITRAL Arbitration
Following the presentation of evidence, the Tribunal may declare the proceedings closed and will deliberate. Until the award is issued, the Tribunal may reopen the proceedings if it considers it necessary.
UNCITRAL awards are final and binding on the parties. They must be made in writing and state the reasons upon which they are based, unless the parties agree otherwise. They must be dated and indicate the place of arbitration.
The questions before the Tribunal must be decided by a majority vote of the Tribunal members, but individual opinions (concurring, dissenting or other) are generally accepted as a matter of practice. The award must be signed by the Tribunal members. Where there is more than one arbitrator, the award will state the reasons if any of them fails to sign.
Parties are obliged to carry out the award without delay. The UNCITRAL Rules provide, however, for certain limited post-award remedies available for the parties.
A certified copy of the award will be dispatched to the parties. Additional certified copies of the award may be requested by the parties.
The parties may agree to publish the award on ICSID’s website.
Unlike ICSID proceedings, more than one award may be rendered in an UNCITRAL arbitration. For example, the tribunal may choose to issue interim awards on distinct matters such as jurisdiction, liability or damages, before issuing its final award.
Each of these Awards may be liable to setting aside proceedings in accordance with the law of the seat of arbitration. Likewise, they may be enforced in other jurisdiction according to the law applicable in that jurisdiction.