The ‘award’ refers to the arbitrator's ultimate ruling in the matter. This is similar to a legal ruling made by a prosecutor or jury. The arbitrator will adjourn the proceedings until the arbitrator has determined that both parties' testimony and claims have been provided. This ensures that there would be no further evidence or arguments permitted.
The arbitrator will write the award, and the American Arbitration Association will give it to the parties until it is complete. The period the judgment to be granted to the parties varies depending on the law and the arbitration arrangement with the parties. However, it is generally between 14 and 30 days after the proceedings conclude.
IMPLEMENTATION OF THE AWARD
Many parties will willingly obey the arbitrator's decision; nevertheless, neither the AAA nor the arbitrator has the power to compel a party to follow the award's instructions. Instead, if the other party fails to follow the award, the winning party can take the case to court to ‘confirm’ the arbitration award.
According to AAA law, parties to AAA proceedings will accept that the arbitration decision will be entered as a verdict in every federal or state court of jurisdiction. This ensures that it will be enforced by the judge much as every other court decision. Since the formal award is submitted to the parties, the AAA and the arbitrator are no longer interested in the dispute. As a result, they cannot advise the parties about how to ensure that the award is upheld.
SUPREME COURT OF AMERICA
The Court's analysis of an arbitration award is well established as ‘extremely narrow’ and ‘highly deferential in Liuna v. Molfetta Indus. Co, Egan Jones Ratings Co. v. Pruette, Egan Jones Ratings Co. v. Pruette, the court stated that “Review of arbitration awarded under the FAA is extremely deferential.” The sine qua non in judicial oversight of an arbitration decision is a high degree of deference to the arbitrator, the Third Circuit said.
The Supreme Court settled a Circuit split in Hall St. Associates, L.L.C. v. Mattel, concerning the basis for vacating or amending an arbitration judgment. In that case, Justice Souter, writing for the majority, ruled that sections 9 and 10 of the Federal Arbitration Act (“FAA”) set out the sole conditions for vacating or amending an arbitration award“We still maintain that 10 and 11 are the FAA's sole grounds for expedited vacatur and alteration, respectively.”
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This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being. Further, despite all efforts made to ensure the accuracy and correctness of the information published, White Code VIA Mediation and Arbitration Centre shall not be responsible for any errors caused due to human error or otherwise.