Answer ... Section 67(1) of the AO (adopting Article 31 of the Model Law) sets out a number of procedural requirements relating to the formality of an award, as follows:

• The award must be in writing and signed by the arbitrator(s). In arbitral proceedings with more than one arbitrator, the signatures of the majority of all members of the arbitral tribunal shall suffice, provided that the reason for any omitted signature is stated.
• The award must state the reasons upon which it is based, unless the parties have agreed that no reasons are to be given or that the award is an award on agreed terms (eg, the terms of a settlement agreement).
• The award must state its date and the place of arbitration, and shall be deemed to have been made at that place; and
• After the award is made, a copy signed by the arbitrators in accordance with paragraph (1) of Article 31 must be delivered to each party.

The common law has laid down certain substantive requirements as to validity of awards, with regard to compliance with the submission, finality, certainty, consistency (or cogency) and capability of performance.

Answer ... Section 72 of the AO provides that unless otherwise agreed by the parties, an arbitral tribunal has the power to make an award at any time. Any time limit for making an award may from time to time be extended by order of the court on the application of any party, whether that time has expired or not, and the court’s decision is not subject to appeal.