Answer ... The arbitrators should decide the dispute in accordance with:
- the law applicable to the substance of the dispute; and
- other considerations agreed between the parties or determined by the tribunal (Section 46).
The parties may agree on the form of the award. If there is no agreement, the award shall:
- be in writing;
- be signed by all arbitrators or all those assenting to the award;
- contain the reasons for the award, unless it is an agreed award or the parties have agreed to dispense with reasons; and
- state the seat of the arbitration and the date on which the award was made (Section 52).
Parties can agree on the way in which an award should be notified. If not, an award is notified by serving the parties with a copy of the award “without delay after the award is made” (Section 55).
Answer ... An arbitration agreement may specify the timeframe within which the award should be made. Unless otherwise agreed by the parties, the court may, by order, extend that time upon application by the tribunal or by any party to the arbitral proceedings. The court shall make such an order only where any available arbitral process has been exhausted and where it is satisfied that substantial injustice would otherwise be done (Section 50).