Answer ... As per art. 14 of the TCIA, the award shall contain:
- Full names, titles and addresses of the parties and their representatives and lawyers if any;
- Legal reasons the award is based; the amount of compensation if it is requested so
- Place of arbitration and the date of the award
- The name, signature and dissenting option of the arbitral if any
- A statement that parties may set aside the award.
In addition to these characteristics of the award; an award should;
- Be rendered in accordance with the procedure agreed by the parties or stipulated by TCIA,
- Be rendered in due time in accordance with the procedure agreed by the parties or stipulated by TCIA,
- Be rendered as per the scope of arbitration agreement and be rendered regarding the whole request,
- Be rendered considering equality of the parties,
- Not be rendered in conflict with the public policy.
Answer ... As per art. 10/B of the TCIA, unless otherwise agreed, an award must be granted within one year. In the event of a sole arbitrator, this one-year period starts on the date of his appointment whereas in the event of an arbitral tribunal, this period starts on the date of the first tribunal’s meeting.