7.01 The intended final product of the arbitral process is the arbitral award which is usually the resolution by the arbitrators of the dispute on the merits. The award is final and binding on the parties. As will be discussed in what follows, a number of important legal consequences result from the award. One such consequence is the enforceability of the award. Even though the hope is that the losing party will comply with the award voluntarily, this is not always the case. It is therefore crucial for the winning party that the arbitrators render an enforceable...
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