Decision or Award Sample Clauses
The "Decision or Award" clause defines the process and authority by which a final determination or judgment is made in a dispute, typically within arbitration or similar proceedings. It outlines how the arbitrator or tribunal will issue a binding resolution, specifying the form, timing, and effect of the decision or award. This clause ensures that parties understand the mechanism for resolving disputes and provides certainty that the outcome will be enforceable, thereby promoting finality and closure in the event of a disagreement.
Decision or Award. Any decision or award of the arbitrator shall be final and binding upon the parties to the arbitration proceeding. The parties agree that the award may be enforced against the parties to the arbitration proceeding or their assets wherever they may be found and that a judgment upon the award may be entered in any court having jurisdiction thereof.
Decision or Award. Any decision or award of the arbitral tribunal shall be final and binding upon the Parties to the arbitration proceeding. The Parties agree that the arbitral award may be enforced against the Parties to the arbitration proceeding or their assets wherever they may be found and that a judgment upon the arbitral award may be entered in any court having jurisdiction thereof. The Parties further agree that the arbitral tribunal shall have no power or authority to award punitive or exemplary damages.
Decision or Award. The decision or award of the arbitrator shall be final and binding upon the Parties and the Parties shall do such acts as the arbitration decision or award may require of them. Judgment upon any award rendered by the arbitrator may be entered in any court having jurisdiction and execution issued thereon. This provision shall survive the termination of this Agreement.
Decision or Award. 4.5.1 The arbitration decision or award of the Sole Arbitrator or the Arbitration Panel shall be final and binding on the Parties with respect to the Dispute and shall not be subject to any appeal. Each Party shall bear its own costs and expenses and an equal share of the fees and expenses of the Sole Arbitrator or the Arbitration Panel and, if required, the Executive Director defined in the Rules. The fees of the Sole Arbitrator or Arbitration Panel shall be agreed by the Parties at the time of its or their selection.
4.5.2 Judgment upon the arbitration decision or award may be entered in any court having jurisdiction, or application may be made to such court for a judicial recognition of the arbitration award or an order of enforcement thereof, as the case may be.