Common use of Final Award Clause in Contracts

Final Award. 1. If the Tribunal makes a final award against the respondent, the Tribunal may only award, separately or in combination: (a) monetary damages and any applicable interest; (b) restitution of property, in which case the award shall provide that the respondent may pay monetary damages representing the fair market value of the property at the time immediately before the expropriation, or impending expropriation became known, whichever is earlier, and any applicable interest in lieu of restitution, determined in a manner consistent with Article 8.12. 2. Subject to paragraphs 1 and 5, if a claim is made under Article 8.23.1(b): (a) an award of monetary damages and any applicable interest shall provide that the sum be paid to the locally established enterprise; (b) an award of restitution of property shall provide that restitution be made to the locally established enterprise; (c) an award of costs in favour of the investor shall provide that it is to be made to the investor; and (d) the award shall provide that it is made without prejudice to a right that a person, other than a person which has provided a waiver pursuant to Article 8.22, may have in monetary damages or property awarded under a Party’s law. 3. Monetary damages shall not be greater than the loss suffered by the investor or, as applicable, the locally established enterprise, reduced by any prior damages or compensation already provided. For the calculation of monetary damages, the Tribunal shall also reduce the damages to take into account any restitution of property or repeal or modification of the measure. 4. The Tribunal shall not award punitive damages. 5. The Tribunal shall order that the costs of the proceedings be borne by the unsuccessful disputing party. In exceptional circumstances, the Tribunal may apportion costs between the disputing parties if it determines that apportionment is appropriate in the circumstances of the claim. Other reasonable costs, including costs of legal representation and assistance, shall be borne by the unsuccessful disputing party, unless the Tribunal determines that such apportionment is unreasonable in the circumstances of the claim. If only parts of the claims have been successful the costs shall be adjusted, proportionately, to the number or extent of the successful parts of the claims. 6. The CETA Joint Committee shall consider supplemental rules aimed at reducing the financial burden on claimants who are natural persons or small and medium-sized enterprises. Such supplemental rules may, in particular, take into account the financial resources of such claimants and the amount of compensation sought. 7. The Tribunal and the disputing parties shall make every effort to ensure the dispute settlement process is carried out in a timely manner. The Tribunal shall issue its final award within 24 months of the date the claim is submitted pursuant to Article 8.23. If the Tribunal requires additional time to issue its final award, it shall provide the disputing parties the reasons for the delay.

Final Award. 1. If the Tribunal makes a final award against the respondent, the Tribunal may only award, separately or in combination: (a) monetary damages and any applicable interest; (b) restitution of property, in which case the award shall provide that the respondent may pay monetary damages representing the fair market value of the property at the time immediately before the expropriation, or impending expropriation became known, whichever is earlier, and any applicable interest in lieu of restitution, determined in a manner consistent with Article article 8.12. 2. Subject to paragraphs 1 and 5, if a claim is made under Article article 8.23.1(b): (a) an award of monetary damages and any applicable interest shall provide that the sum be paid to the locally established enterprise; (b) an award of restitution of property shall provide that restitution be made to the locally established enterprise; (c) an award of costs in favour of the investor shall provide that it is to be made to the investor; and (d) the award shall provide that it is made without prejudice to a right that a person, other than a person which has provided a waiver pursuant to Article article 8.22, may have in monetary damages or property awarded under a Party’s 's law. 3. Monetary damages shall not be greater than the loss suffered by the investor or, as applicable, the locally established enterprise, reduced by any prior damages or compensation already provided. For the calculation of monetary damages, the Tribunal shall also reduce the damages to take into account any restitution of property or repeal or modification of the measure. 4. The Tribunal shall not award punitive damages. 5. The Tribunal shall order that the costs of the proceedings be borne by the unsuccessful disputing party. In exceptional circumstances, the Tribunal may apportion costs between the disputing parties if it determines that apportionment is appropriate in the circumstances of the claim. Other reasonable costs, including costs of legal representation and assistance, shall be borne by the unsuccessful disputing party, unless the Tribunal determines that such apportionment is unreasonable in the circumstances of the claim. If only parts of the claims have been successful the costs shall be adjusted, proportionately, to the number or extent of the successful parts of the claims. 6. The CETA CETa Joint Committee shall consider supplemental rules aimed at reducing the financial burden on claimants who are natural persons or small and medium-sized enterprises. Such supplemental rules may, in particular, take into account the financial resources of such claimants and the amount of compensation sought. 7. The Tribunal and the disputing parties shall make every effort to ensure the dispute settlement process is carried out in a timely manner. The Tribunal shall issue its final award within 24 months of the date the claim is submitted pursuant to Article article 8.23. If the Tribunal requires additional time to issue its final award, it shall provide the disputing parties the reasons for the delay.

Final Award. 1. If the Tribunal makes a final award against the respondentRespondent, in respect of its finding of liability, the Tribunal may only award, separately or in combination, only: (a) monetary damages and any applicable interest;; and (b) restitution of property, in which case the award shall provide that the respondent Respondent may pay monetary damages representing the fair market value of the property at the time immediately before the expropriation, or impending expropriation became known, whichever is earlier, and any applicable interest in lieu of restitution, determined in a manner consistent with Article 8.12. 2. Subject to paragraphs paragraph 1 and 5of this Article, if a claim is made under Article 8.23.1(b):9(2) of this Agreement: (a) an award of monetary damages and any applicable interest shall provide that the sum be paid to the locally established enterprise; (b) an award of restitution of property shall provide that restitution be made to the locally established enterprise; (c) an award of costs in favour of the investor shall provide that it is to the sum be made paid to the investor; and (d) the award shall provide that it is made without prejudice to a right that a person, other than a person which has provided a waiver pursuant to Article 8.229 of this Agreement, may have in monetary damages or property awarded under a Party’s lawthe domestic law of the Respondent. 3. Monetary damages shall not be greater than the loss suffered by the investor or, as applicable, the locally established enterprise, reduced by any prior damages or compensation already provided. For the calculation of monetary damages, the Tribunal shall also reduce the damages to take into account any restitution of property or repeal or modification of the measure. 4. The Tribunal shall not award punitive damages. 5. The Tribunal shall make an order that with respect to the costs of the proceedings arbitration, which shall in principle be borne by the unsuccessful disputing partyDisputing Party or Parties. In exceptional circumstancesdetermining the appropriate apportionment of costs, the Tribunal may apportion costs between shall consider all relevant circumstances, including: (a) the disputing parties if it determines that apportionment is appropriate in the circumstances outcome of any part of the claim. Other reasonable costsproceeding, including costs of legal representation and assistance, shall be borne by the unsuccessful disputing party, unless the Tribunal determines that such apportionment is unreasonable in the circumstances of the claim. If only parts of the claims have been successful the costs shall be adjusted, proportionately, to the number or extent of the successful parts of the claimsclaims or defences; (b) the Disputing Parties’ conduct during the proceeding, including the extent to which they acted in an expeditious and cost-effective manner; (c) the complexity of the issues; and (d) the reasonableness of the costs claimed. 6. The CETA Joint Committee shall consider supplemental rules aimed at reducing the financial burden on claimants who are natural persons or small and medium-sized enterprises. Such supplemental rules may, in particular, take into account the financial resources of such claimants and the amount of compensation sought. 74. The Tribunal and the disputing parties Disputing Parties shall make every effort to ensure the dispute settlement process is carried out in a timely manner. The Tribunal shall issue its final award within 24 12 months of the final date of the claim is submitted pursuant hearing on the merits. The Tribunal may, with good cause and notice to the Disputing Parties, delay issuing its final award by an additional brief period. 5. Monetary damages in an award: (a) shall not be greater than the loss or damage incurred by the investor, or, as applicable, by the enterprise referred to in Article 8.239(2) of this Agreement, as valued on the date of the breach;10 (b) shall only reflect loss or damage incurred by reason of, or arising out of, the breach; and (c) shall be determined with reasonable certainty, and shall not be speculative or hypothetical. 6. If In making an award under paragraph 5 of this Article, the Tribunal shall calculate monetary damages based only on the submissions of the Disputing Parties, and shall consider, as applicable: (a) contributory fault, whether deliberate or negligent; (b) failure to mitigate damages; (c) prior damages or compensation received for the same loss; or (d) restitution of property, or repeal or modification of the measure. 7. The Tribunal may award monetary damages for lost future profits only insofar as such damages satisfy the requirements under paragraph 5 of this Article. Such determination requires additional a case-by-case, fact-based inquiry that takes into consideration, among other factors, whether a covered investment has been in operation in the territory of the Respondent for a sufficient period of time to issue its final award, it establish a performance record of profitability. 8. The Tribunal may award pre-award and post-award interest at a reasonable rate of return compounded annually. 9. The Tribunal shall provide not award punitive damages. 10. The Tribunal shall not award monetary damages under Article 9(1) of this Agreement for loss or damage incurred by the disputing parties the reasons for the delayinvestment.

Final Award. 1. If the Tribunal makes a final award against the respondent, the Tribunal may only award, separately or in combination: (a) monetary damages and any applicable interest; (b) restitution of property, in which case the award shall provide that the respondent may pay monetary damages representing the fair market value of the property at the time immediately before the expropriation, or impending expropriation became known, whichever is earlier, and any applicable interest in lieu of restitution, determined in a manner consistent with Article 8.12. 2. Subject to paragraphs 1 and 5, if a claim is made under Article 8.23.1(b): (a) an award of monetary damages and any applicable interest shall provide that the sum be paid to the locally established enterprise; (b) an award of restitution of property shall provide that restitution be made to the locally established enterprise; (c) an award of costs in favour of the investor shall provide that it is to be made to the investor; and (d) the award shall provide that it is made without prejudice to a right that a person, other than a person which has provided a waiver pursuant to Article 8.22, may have in monetary damages or property awarded under a Party’s 's law. 3. Monetary damages shall not be greater than the loss suffered by the investor or, as applicable, the locally established enterprise, reduced by any prior damages or compensation already provided. For the calculation of monetary damages, the Tribunal shall also reduce the damages to take into account any restitution of property or repeal or modification of the measure. 4. The Tribunal shall not award punitive damages. 5. The Tribunal shall order that the costs of the proceedings be borne by the unsuccessful disputing party. In exceptional circumstances, the Tribunal may apportion costs between the disputing parties if it determines that apportionment is appropriate in the circumstances of the claim. Other reasonable costs, including costs of legal representation and assistance, shall be borne by the unsuccessful disputing party, unless the Tribunal determines that such apportionment is unreasonable in the circumstances of the claim. If only parts of the claims have been successful the costs shall be adjusted, proportionately, to the number or extent of the successful parts of the claims. 6. The CETA Joint Committee shall consider supplemental rules aimed at reducing the financial burden on claimants who are natural persons or small and medium-sized medium‑sized enterprises. Such supplemental rules may, in particular, take into account the financial resources of such claimants and the amount of compensation sought. 7. The Tribunal and the disputing parties shall make every effort to ensure the dispute settlement process is carried out in a timely manner. The Tribunal shall issue its final award within 24 months of the date the claim is submitted pursuant to Article 8.23. If the Tribunal requires additional time to issue its final award, it shall provide the disputing parties the reasons for the delay.