ABSTRACT
Unless a settlement is reached, the objective in any arbitration is a decision of an arbitral tribunal contained in a valid and enforceable award. “Awards” are decisions of the tribunal which finally dispose of an issue, or issues, between the parties and which will be given recognition and effect by state courts. This chapter reviews the various types of award; the remedies which may be included in an award; issues affecting the validity of an award; and, finally, the consequences of an invalid award. The principal types of award include: provisional; interim; partial; final; consent; and default. An order for the payment of money by one party to another is the most common remedy found in awards. The payment may represent compensation for losses suffered or the payment of a debt. A declaratory award is capable of recognition in proceedings commenced in the same state as the arbitration, or elsewhere.
