Arbitration Arbitration Awards and Enforcement 2

Question 1

What does 'confirmation of an arbitral award' mean under US law?

Accepted Answer

A court converts the arbitral award into a court judgment enforceable by court mechanisms

Answer

The arbitrator re-reads the award at a public hearing

Answer

The parties sign a consent decree

Answer

The award is registered with the AAA

Question 2

What is the doctrine of 'manifest disregard of the law' as it applies to arbitral awards in the US?

Accepted Answer

A judicially-created ground for vacating an award where the arbitrator knowingly ignores clear, applicable law

Answer

A constitutional ground for vacating any unfair award

Answer

A rule requiring arbitrators to cite case law in every award

Answer

A statutory ground codified in FAA Section 10

Question 3

In a multi-party arbitration, how are arbitral awards typically structured when different parties have different claims?

Accepted Answer

The award specifies liability and damages for each claim and each party separately

Answer

A single award covers all parties uniformly

Answer

The tribunal issues separate awards for each bilateral pair

Answer

Only the claimant receives an award; respondents do not

Question 4

What is an 'interim award' in arbitration?

Accepted Answer

An award resolving specific preliminary issues such as jurisdiction or liability before a final award

Answer

A final award issued before hearing evidence

Answer

A court order staying arbitration proceedings

Answer

An agreement to pause arbitration proceedings

Question 5

Under ICSID (International Centre for Settlement of Investment Disputes) rules, how is an award enforced?

Accepted Answer

ICSID awards are directly enforceable as if they were final judgments of the domestic courts of each member state

Answer

Through the New York Convention enforcement mechanism

Answer

Through a separate UN enforcement protocol

Answer

ICSID awards require Security Council approval before enforcement

Question 6

What is 'interest on an arbitral award' and how is it typically handled?

Accepted Answer

Arbitrators have discretion to award pre- and post-award interest based on the applicable law and circumstances

Answer

Interest is never awarded in arbitration

Answer

Interest must equal the federal funds rate

Answer

Interest can only be awarded if both parties agree