What is an arbitration award?

An arbitration award is a decision made by an arbitrator in a process called arbitration. This process happens when a dispute arises between two or more parties and they are unable to resolve it themselves. The arbitration is a legal process in which an independent third party, called an arbitrator, hears both sides’ evidence and arguments and renders a decision on the dispute, which is called an arbitration award. In the state of Oregon, arbitration awards can be decided on civil matters such as contract disputes or labor disputes and can also be binding or non-binding, depending on the agreement between the parties involved. A binding arbitration award is legally binding and enforceable in a court of law. This means that if one of the parties does not honor the terms of the award, the other party may hold them legally responsible by filing a lawsuit. In Oregon, a non-binding arbitration award is not enforceable in court, but may be used to help the parties reach an agreement outside of the court system. An arbitration award is generally not subject to appeal, except in cases of fraud or other illegal conduct. However, a party may challenge an arbitration award on the grounds that the arbitrator did not have the authority to make the decision, or if the parties were not given a reasonable opportunity to present their argument. In Oregon, any party who wishes to challenge an arbitration award must file a petition with the court within two months of the award being made. If the petition is successful, the court may overturn the award and ask the arbitrator to take the case back to arbitration.

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What is an arbitration award?

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