What is an arbitration award?

An arbitration award is a legally binding decision made by a neutral third-party arbitrator in an arbitration proceeding. Typically, arbitration is used to settle disputes between two parties without going to court. In a District of Columbia arbitration, an arbitrator considers both sides of the dispute and renders a decision. The arbitration award is the outcome of the process, and it is binding on both parties. An arbitration award can be either final or interim. A final award is a complete resolution of the dispute, while an interim award is only effective until the entire dispute is resolved. The award typically includes a declaration of the rights and obligations of the parties, and an order to do or not do something. It can also include an order requiring a party to pay damages or other forms of compensation. Arbitration awards in the District of Columbia are legally binding and enforceable. The award does not have to be filed with a court, but the parties may agree to do so. Once an award is in effect, the parties are legally obligated to comply with it. If one party fails to comply, the other party may seek enforcement of the award in court.

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What is an arbitration award?

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