Getting The Deal Through – Arbitration 2021
Proceedings subsequent to issuance of awardInterpretation and correction of awards
Does the arbitral tribunal have the power to correct or interpret an award on its own or at the parties’ initiative? What time limits apply?
Section 33 of the Arbitration Act provides that the arbitral tribunal may:
- at the request of a party, with notice to the other party, correct computational, clerical, typographical or other errors that have arisen by accident or by omission within 30 days from the receipt of such request;
- at the request of a party, with notice to the other party, give interpretation of a specific point or part of the award within 30 days from the receipt of such request; or
- on its own motion make a correction of the kind mentioned in item 1 above within 30 days from the date of the arbitral award.