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Results: 4 Answers
International Arbitration
12.
Award
12.1
What procedural and substantive requirements must be met by an award?
 
Bulgaria
If there is more than one arbitrator, the award must be issued by a majority of the arbitrators, unless the parties have agreed otherwise. If an arbitrator does not agree with the award, he or she must prepare a dissenting opinion in writing. If a majority cannot be reached, the award will be issued by the presiding arbitrator.

The award must be reasoned, unless the parties have agreed otherwise or the award is issued under the conditions of a settlement. The award must also be dated and specify the place of the arbitration.

The award must be signed by the arbitrator or the arbitrators. If there is more than one arbitrator, the signatures of a majority of the tribunal are sufficient, if the signatories state the reason for the missing signatures.

The decision will enter into force upon delivery to the parties. The decision then becomes mandatory for the parties and is subject to enforcement proceedings.

For more information about this answer please contact: Chemshirov Radoslav from Schoenherr Attorneys at Law
12.2
Must the award be produced within a certain timeframe?
 
Bulgaria
No, there are no timeframes for producing the award.

For more information about this answer please contact: Chemshirov Radoslav from Schoenherr Attorneys at Law