How Do You Spell ARBITRAL AWARD?

Pronunciation: [ˈɑːbɪtɹə͡l ɐwˈɔːd] (IPA)

The spelling of the word "arbitral award" is based on its pronunciation, which follows the International Phonetic Alphabet (IPA) transcription /ˈɑːbɪtrəl əˈwɔːd/. The word refers to a legal decision issued by an arbitrator or arbitration panel, and it contains two syllables: "arbitr-" and "-al award." The stress falls on the second syllable, which is pronounced with the diphthong "əʊ" (as in "go"). Accurately spelling legal terminology like "arbitral award" is critical as it ensures clarity and prevents misunderstandings in legal documentation.

ARBITRAL AWARD Meaning and Definition

1. An arbitral award refers to the final decision or ruling made by an arbitration tribunal or panel regarding a dispute between two parties. It is a legally binding and enforceable decision on the matters in dispute, similar to a judgment issued by a court. Arbitral awards are predominantly utilized in the field of alternative dispute resolution (ADR) to settle conflicts outside the judicial system.

   The process leading to an arbitral award involves both parties presenting their arguments and evidence to a neutral arbitrator or panel of arbitrators. These individuals, often experts in the specific field, deliberate and analyze the arguments, evidence, and applicable laws or regulations before rendering a decision.

   Arbitral awards typically contain findings of fact, legal conclusions, and the final resolution to the dispute, including any monetary damages or specific remedies that one party may owe to the other. Once the award is issued, it becomes legally binding upon the involved parties, who are required to abide by its terms.

   Additionally, arbitral awards may also address issues related to costs, expenses, and the allocation of arbitration fees between the parties. The award is considered a final and conclusive judgment, and as such, it is typically recognized and enforceable in domestic and international jurisdictions under various arbitration laws and international conventions. Parties dissatisfied with the arbitral award generally have limited recourse for challenging or appealing the decision.

Etymology of ARBITRAL AWARD

The word "arbitral" comes from the Latin term "arbitralis", which is derived from the noun "arbitrium" meaning "judgment" or "decision". "Arbitrium" itself is formed from the verb "arbiter" meaning "to judge" or "to decide". "Award", on the other hand, is derived from the Old English word "awarden", which means "to judge" or "to grant". The combination of "arbitral" and "award" refers to the decision or judgment made by an arbitrator or an arbitration tribunal in a dispute resolution process.