Comparative Guides
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Results: 4 Answers
International Arbitration
12.
Award
12.1
What procedural and substantive requirements must be met by an award?
 
Greece
Law 2735/1999 (Article 31) provides that unless the parties have agreed otherwise, a valid and enforceable award in international commercial arbitration in Greece must:

  • be in writing;
  • be signed by the arbitrators; and
  • state its date, the place of the arbitration and the grounds for the ruling.

The Greek Code of Civil Procedure (Article 892) establishes similar requirements for awards in domestic arbitration.

Moreover, in both types of arbitration (Article 32(5) of Law 2735/1999 and Article 893 of the Greek Code of Civil Procedure), an original copy of the award must be delivered to each party; and unless the parties have agreed otherwise, the tribunal must file the original award with the secretariat of the court of first instance.

For more information about this answer please contact: Manolis Perakis from Dracopoulos & Vassalakis LP
12.2
Must the award be produced within a certain timeframe?
 
Greece
Greek law specifies no timeframe within which an award must be issued, although the parties are free to establish such a timeframe by agreement.

For more information about this answer please contact: Manolis Perakis from Dracopoulos & Vassalakis LP