Answer ... In order to be valid and enforceable, an arbitral award must:
- be issued in writing (Article 51(1));
- be signed by all arbitrators (Article 51(1));
- indicate a date and place of issuance (Article 53(2)); and
- contain an introduction, an operative part, a decision on costs and the reasoning, unless the parties have excluded this in the arbitration agreement (Article 53(1)). An award by consent need not include the reasoning (Article 54).
Where there is more than one arbitrator, the award will be valid if signed by the majority, provided that the arbitrators give the reason for the missing signature (Article 51(4)).
Answer ... The Arbitration Act does not specify a time limit for the arbitral tribunal to render an award.