Arbitration Rule 16: Place of Arbitration
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Questions and Answers

What is the minimum number of arbitrators required for any award or decision of the arbitral tribunal to be made by a majority?

  • One arbitrator
  • Three arbitrators (correct)
  • Four arbitrators
  • Two arbitrators
  • In the case of questions of procedure, who may decide on his own if there is no majority or if authorized by the arbitral tribunal?

  • One of the parties
  • All the arbitrators collectively
  • The legal counsel of both parties
  • The presiding arbitrator (correct)
  • What types of awards is the arbitral tribunal entitled to make in addition to a final award?

  • Only final awards
  • Interim and final awards
  • Final and partial awards
  • Interim, interlocutory, or partial awards (correct)
  • According to Rule 32, what is the status of the award made by the arbitral tribunal?

    <p>It is final and binding on the parties</p> Signup and view all the answers

    When must an award provide for the payment of markup/interest on the awarded sum?

    <p>For the period between the date of award up to the date of payment</p> Signup and view all the answers

    When must reasons for an award be stated by the arbitral tribunal?

    <p>Unless the parties have agreed otherwise, reasons must be given</p> Signup and view all the answers

    How must an award be signed according to Rule 32?

    <p>Signed by all arbitrators collectively</p> Signup and view all the answers

    Under what circumstances can an award be made public?

    <p>With consent from both parties only</p> Signup and view all the answers

    What must an award state if one of three arbitrators fails to sign it?

    <p>The reason for absence of signature by that arbitrator</p> Signup and view all the answers

    What type of interest must be paid according to Rule 32?

    <p>Markup/interest based on current profit margins</p> Signup and view all the answers

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