(1) The Tribunal shall apply the rules of law designated by the parties as applicable to the substance of the dispute. Failing such designation by the parties, the Tribunal shall apply:
(a) the law which it determines to be applicable; and
(b) the rules of international law it considers applicable.
(2) The Tribunal may decide ex aequo et bono if the parties have expressly authorized it to do so and if the law applicable to the arbitration so permits.
(1) The Tribunal shall render the Award as soon as possible, and in any event no later than:
(a) 60 days after the later of the Tribunal constitution or the last submission, if the Award is rendered pursuant to Rule 51(3);
(b) 180 days after the last submission if the Award is rendered pursuant to Rule 54(3)(c); or
(c) 240 days after the last submission in all other cases.
(2) A statement of costs and submission on costs filed pursuant to Rule 61 shall not be considered a submission for the purposes of paragraph (1).
(3) The parties waive any time limits for rendering the Award which may be provided for by the law of the seat of arbitration.
(1) The Award shall be in writing and shall contain:
(a) a precise designation of each party;
(b) the names of the representatives of the parties;
(c) a statement that the Tribunal was established pursuant to these Rules and a description of the method of its constitution;
(d) the name of each member of the Tribunal and the appointing authority of each;
(e) the seat of arbitration, the date and place of the first session, case management conferences and hearings;
(f) a brief summary of the proceeding;
(g) a statement of the relevant facts as found by the Tribunal;
(h) a brief summary of the submissions of the parties, including the relief sought;
(i) the reasons on which the Award is based, unless the parties have agreed that no reasons are to be given; and
(j) a statement of the costs of the proceeding, including the fees and expenses of each member of the Tribunal, and a reasoned decision on costs.
(2) The Award shall be signed by the members of the Tribunal who voted for it. It may be signed by electronic means if the parties agree and if allowed by the law of the seat of arbitration.
(3) Any member of the Tribunal may attach an individual opinion or a statement of dissent to the Award before the Award is rendered.
(4) The Award shall be final and binding on the parties.
(1) Once the Award has been signed by the members of the Tribunal who voted for it, the Secretary-General shall promptly:
(a) dispatch a certified copy of the Award to each party, together with any individual opinion and statement of dissent, indicating the date of dispatch on the Award; and
(b) deposit the Award in the archives of the Centre, together with any individual opinion and statement of dissent.
(2) Upon request of the parties that the original text of the Award be filed or registered by the Tribunal pursuant to the law of the seat of arbitration, the Secretary-General shall do so on behalf of the Tribunal.
(3) The Award shall be deemed to have been made at the seat of arbitration and deemed to have been rendered on the date of dispatch of certified copies of the Award.
(4) The Secretary-General shall provide additional certified copies of the Award to a party upon request.
(1) A Tribunal may rectify any clerical, arithmetical or similar error in the Award on its own initiative within 30 days after rendering the Award.
(2) A party may request a supplementary decision, rectification or interpretation of an Award by filing a request with the Secretary-General and paying the lodging fee published in the schedule of fees within 45 days after the Award was rendered.
(3) The request referred to in paragraph (2) shall:
(a) identify the Award to which it relates;
(b) be in an official language of the Centre used in the proceeding;
(c) be signed by each requesting party or its representative and be dated;
(i) with respect to a request for a supplementary decision, any question which the Tribunal omitted to decide in the Award;
(ii) with respect to a request for rectification, any clerical, arithmetical or similar error in the Award;
(iii) with respect to a request for interpretation, the points in dispute concerning the meaning or scope of the Award; and
(e) attach proof of payment of the lodging fee.
(4) Upon receipt of the request and the lodging fee, the Secretary-General shall promptly:
(a) transmit the request to the other party;
(b) register the request, or refuse registration if the request is not filed or the fee is not paid within the time limit referred to in paragraph (2); and
(c) notify the parties of the registration or refusal to register.
(5) As soon as the request is registered, the Secretary-General shall transmit the request and the notice of registration to each member of the Tribunal.
(6) The President of the Tribunal shall determine the procedure to consider the request, after consulting with the other members of the Tribunal and the parties.
(7) Rules 70-71 shall apply to any decision of the Tribunal pursuant to this Rule.
(8) The Tribunal shall issue a decision on the request for supplementary decision, rectification or interpretation within 60 days after the last submission on the request.
(9) A supplementary decision, rectification or interpretation pursuant to this Rule shall become part of the Award and shall be reflected on all certified copies of the Award.