FAI Arb FAI Arbitration Rules 2024
FAI Arb
FAI Arbitration Rules 2024
47.1 Within 30 days from the date of receipt of the award, a party may, with notice to the other parties and the Institute, request that the arbitral tribunal:
(a) correct any clerical, typographical or computational error in the award;
(b) correct an omission to state in the award the seat of arbitration or the date on which the award was made, or an omission of an arbitrator to sign the award; or
(c) provide an interpretation of a specific point or part of the award.
47.2 The arbitral tribunal shall give the other parties an opportunity to submit comments on the request within the time limit set by the tribunal.
47.3 If the arbitral tribunal considers the request justified, it shall make the correction or provide the interpretation within 30 days from the date of receipt of the request. The Institute may extend this time limit upon a reasoned request of the arbitral tribunal or, if deemed necessary, on its own motion.
47.4 The arbitral tribunal may correct any error of the type referred to in Article 47.1(a)–(b) on its own motion within 30 days of the date of an award.
47.5 The provisions of Articles 42 and 43 shall apply to any correction or interpretation of an award.
47.6 The provisions on correction and interpretation of an award shall also apply to an order for the termination of the proceedings.
Import: