Common use of Awards and Enforcement Clause in Contracts

Awards and Enforcement. 1. Arbitration awards may provide the following forms of relief: a) a declaration that the Contracting Party has failed to comply with its obligations under this Agreement; b) pecuniary compensation, which shall include any applicable interests; c) restitution in kind in appropriate cases, provided that the Contracting Party may pay pecuniary compensation in lieu thereof where restitution is not practicable; and d) with the agreement of the parties to the dispute, any other form of relief. 2. Arbitration awards shall be final and binding only upon the parties to the dispute and only with respect to the particular case. 3. The final award will only be published if there is written agreement by both parties to the dispute. 4. An arbitral tribunal shall not order a Contracting Party to pay punitive damages. 5. Each Contracting Party shall, in its territory, make provision for the effective enforcement of awards made pursuant to this Article and shall carry out without delay any such award issued in a proceeding to which it is party. 6. An investor may seek enforcement of an arbitration award under the ICSID Convention or the New York Convention, if both Contracting Parties are parties to such instruments.

Awards and Enforcement. 1. Arbitration awards may provide the following forms of relief: a) a A declaration that the Contracting Party has failed to comply with its obligations under this Agreement; b) pecuniary Pecuniary compensation, which shall include any applicable interests; c) restitution Restitution in kind in appropriate cases, provided that the Contracting Party may pay pecuniary compensation in lieu thereof where restitution is not practicable; and d) with With the agreement of the parties to the dispute, any other form of relief. 2. Arbitration awards shall be final and binding only upon the parties to the dispute and only with respect to the particular case. 3. The final award will only be published if there is written agreement by both parties to the dispute. 4. An arbitral tribunal shall not order a Contracting Party to pay punitive damages. 5. Each Contracting Party shall, in its territory, make provision for the effective enforcement of awards made pursuant to this Article and shall carry out without delay any such award issued in a proceeding to which it is party. 6. An investor may seek enforcement of an arbitration award under the ICSID Convention or the New York Convention, if both Contracting Parties are parties to such instruments.. PART TWO: SETTLEMENT OF DISPUTES BETWEEN THE CONTRACTING PARTIES