What is an arbitration award?

An arbitration award is a legally binding decision made by an arbitrator in an arbitration proceeding. In North Carolina, an arbitration award is an enforceable substitute for a court judgment. It is based upon the arbitration agreement and is reached by the arbitrator after a hearing or based on documents submitted to the arbitrator for review. An arbitration award includes the findings of fact, conclusions of law, and the procedural and substantive rules applied by the arbitrator. The award also includes an explanation of how the arbitrator reached the decision, the relief granted to the parties, and the costs, fees, and expenses related to the arbitration proceeding. If the parties do not agree to an award, the arbitrator must issue a written decision, setting forth the basis for his or her decision. The award serves as the resolution of the dispute and is binding on the parties. If a party fails to comply with the award, the other party can go to court to enforce the award. Courts will usually enforce an arbitration award as long as it was reached through due process. In most cases, decision and awards are final and binding, so courts are unlikely to review the merits of the award.

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What is an arbitration award?

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