Wednesday, January 26, 2005 8:40:26 AM
Folks here is a guide we can use to expect a final arbitration award. From what I read in the ICA proceedings statements, an award is rendered within 6 months of the date of signing the Terms of Reference. Which can be extended by the court. Does anyone have any ideas as to a date they think the terms of reference were established and signed. If so, then it is possible to approximate an award date.
From the ICA web page.
Proceedings
The Terms of Reference become operative once they have been signed by the parties and the arbitrators, or have been approved by the Court where a party has failed to sign them. The Arbitral Tribunal must then proceed to establish the facts of the case. When it is satisfied that the parties have had a reasonable opportunity to present their cases, the Arbitral Tribunal declares the proceedings closed and proceeds to draft an Award, indicating to the Secretariat the approximate date by which the draft award will be submitted to the Court. The award is rendered within six months from the signature or approval of the Terms of Reference, a time-limit which the Court may extend.
From the ICA web page.
Proceedings
The Terms of Reference become operative once they have been signed by the parties and the arbitrators, or have been approved by the Court where a party has failed to sign them. The Arbitral Tribunal must then proceed to establish the facts of the case. When it is satisfied that the parties have had a reasonable opportunity to present their cases, the Arbitral Tribunal declares the proceedings closed and proceeds to draft an Award, indicating to the Secretariat the approximate date by which the draft award will be submitted to the Court. The award is rendered within six months from the signature or approval of the Terms of Reference, a time-limit which the Court may extend.
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