An award is the final decision of the arbitrators or an umpire in respect of a dispute referred to arbitration. It must be in writing and signed by the arbitrators or an umpire. It may be filed in the court which thereupon, gives notice to the parties of the award. The opinion of the court, on matters which the arbitrators stated a special case for the opinion of the court, shall be added to and forms part of the award. Unless a contrary intention appears, an award is binding on the parties to the arbitration agreements and persons claiming under them.
The court may modify an award:
- When a part of the award is on matters not referred to arbitration and such part can be separated without affecting decision or
- When the award is imperfect in form or contains obvious error or
- When the award contains clerical mistake or an accidental omission.
The court may remit an award for reconsideration:
1) When certain matters referred to arbitration are not determined or
2) When the award determines the matters not referred to arbitrations or
3) When the award is incapable of execution or
4) When the legality of the award is objected to and such objection is apparent on the face of it.
When the award is remitted for reconsideration, the arbitrators or umpire shall give their decision within the fixed time, or such extended time as the court may allow. Otherwise, the award becomes void.
The court may set aside the award:
1) When the arbitrator or umpire misconducts himself or the proceedings,
2) When the award is improperly procured or is otherwise invalid,
3) When the award is made after the arbitration has become invalid or has been superseded by an order of the court.