Section 138p. 138

PUBLIC INTERNATIONAL LAW COMPENDIUM VOLUME II

1. In addition to making a final award, the arbitral tribunal

shall be entitled to make interim, interlocutory, or partial

awards.

2. The award shall be made in writing and shall be final

and binding on the parties. The parties undertake to carry

out the award without delay.

3. The arbitral tribunal shall state the reasons upon which

the award is based, unless the parties have agreed that

no reasons are to be given.

4. An award shall be signed by the arbitrators and it shall

contain the date on which and the place where the award

was made. Where there are three arbitrators and one of

them fails to sign, the award shall state the reason for the

absence of the signature.

5. The award may be made public only with the consent

of both parties.

6. Copies of the award signed by the arbitrators shall be

communicated to the parties by the arbitral tribunal.

7. If the arbitration law of the country where the award is

made requires that the award be filed or registered by

the arbitral tribunal, the tribunal shall comply with this

requirement within the period of time required by law.

ARTICLE 33

Applicable Law, Amiable Compositeur

1. The arbitral tribunal shall apply the law designated by

the parties as applicable to the substance of the dispute.

Failing

such designation by the parties, the arbitral

tribunal shall apply the law determined by the conflict of

laws rules which it considers applicable.

2.

The

arbitral

tribunal

shall

decide

as

amiable

compositeur or e x aequo et bono only if the parties have

expressly authorized the arbitral tribunal to do so and if

the law applicable to the arbitral procedure permits such

arbitration.

3.

In

all

cases,

the

arbitral tribunal shall decide in

accordance with the terms of the contract and shall take

into account the usages of the trade applicable to the

transaction.

ARTICLE 34

Settlement or Other Grounds for Termination

1. If, before the award is made, the parties agree on a

settlement of the dispute, the arbitral tribunal shall either

issue

an

order

for

the

termination

of

the

arbitral

proceedings or, if requested by both parties and accepted

by the tribunal, record the settlement in the form of an

arbitral award on agreed terms. The arbitral tribunal is not

obliged to give reasons for such an award.

2. If, before the award is made, the continuation of the

arbitral proceedings becomes unnecessary or impossible

for any reason not mentioned in paragraph 1, the arbitral

tribunal shall inform the parties of its intention to issue an

order for the termination of the proceedings. The arbitral

tribunal shall have the power to issue such an order

unless a party raises justifiable grounds for objection.

3. Copies of the order for termination of the arbitral

proceedings or of the arbitral award on agreed terms,

signed by the arbitrators, shall be communicated by the

arbitral tribunal to the parties. Where an arbitral award on

agreed

terms

is

made,

the provisions of article 32,

paragraphs 2 and 4 to 7, shall apply.

ARTICLE 35

Interpretation of the Award

1. Within thirty days after the receipt of the award, either

party, with notice to the other party, may request that the

arbitral tribunal give an interpretation of the award.

2. The interpretation shall be given in writing within

forty-five days after the receipt of the request. The

interpretation shall form part of the award and the

provisions of article 32, paragraphs 2 to 7, shall apply.

ARTICLE 36

Correction of the Award

1. Within thirty days after the receipt of the award, either

party, with notice to the other party, may request the

arbitral tribunal to correct in the award any errors in

computation, any clerical or typographical errors, or any

errors of similar nature. The arbitral tribunal may within

thirty days after the communication of the award make

such corrections on its own initiative.

2. Such corrections shall be in writing, and the provisions

of article 32, paragraphs 2 to 7, shall apply.

ARTICLE 37

Additional Award

1. Within thirty days after the receipt of the award, either

party, with notice to the other party, may request the

arbitral tribunal to make an additional award as to claims

presented in the arbitral proceedings but omitted from

the award.

2. If the arbitral tribunal considers the request for an

additional award to be justified and considers that the

omission can be rectified without any further hearings or

evidence, it shall complete its award within sixty days

after the receipt of the request.

3. When an additional award is made, the provisions of

article 32, paragraphs 2 to 7, shall apply.

ARTICLE 38

Costs

The arbitral tribunal shall fix the costs of arbitration in its

award. The term "costs" includes only:

(a) The fees of the arbitral tribunal to be stated separately

as to each arbitrator and to be fixed by the tribunal itself

in accordance with article 39;

(b)

The

travel

and

other

expenses incurred by the

arbitrators;

(c) The costs of expert advice and of other assistance

required by the arbitral tribunal;

(d) The travel and other expenses of witnesses to the

extent

such

expenses

are

approved

by

the

arbitral

tribunal;

(e) The costs for legal representation and assistance of the

successful party if such costs were claimed during the

arbitral proceedings, and only to the extent that the

arbitral tribunal determines that the amount of such

costs is reasonable;

(f) Any fees and expenses of the appointing authority as

well as the expenses of the Secretary-General of the

Permanent Court of Arbitration at The Hague.

ARTICLE 39

Costs

1. The fees of the arbitral tribunal shall be reasonable in

amount, taking into account the amount in dispute, the

complexity of the subject-matter, the time spent by the

arbitrators and any other relevant circumstances of the

case.

2. If an appointing authority has been agreed upon by the

parties or designated by the Secretary-General of the

Permanent Court of Arbitration at The Hague, and if that

authority has issued a schedule of fees for arbitrators in

international

cases which it administers, the arbitral

tribunal in fixing its fees shall take that schedule of fees

into account to the extent that it considers appropriate in

the circumstances of the case.

3. If such appointing authority has not issued a schedule

of fees for arbitrators in international cases, any party may

at any time request the appointing authority to furnish a

statement setting forth the basis for establishing fees

which is customarily followed in international cases in

which the authority appoints arbitrators. If the appointing

authority consents to provide such a statement, the

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