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Award it is a concept that is used in the field of right to name the resolution issued by an arbitrator or a friendly composer which allows to resolve a conflict between two or more parties.

The referee's decision can be compared with the judgment that dictates a judge , although its jurisdiction is set by the law and the jurisdiction of the arbitrator is in the autonomy of the will. This means that the arbitrator's decision must be accepted by the parties for the dispute to be resolved.

Usually, the parties to the conflict sign a agreement before resorting to the mediation of the arbitrator through which they agree to accept and abide by the award that is proposed as resolution of the conflict.

The award, therefore, You are not required to rely on the right . The parties can previously agree that the arbitration focus on criteria of equity, beyond the legal. The execution An arbitration award, however, requires a judge to order mediation.

Some of its main features are the following:

* It is binding and mandatory;
* who assumes the role of referee has full exercise regarding the jurisdiction, even if this is only temporarily valid (its power begins by accepting its position and ends once it expresses its final decision in the award itself);
* The award can only contain issues directly related to the dispute to be addressed by the arbitrator, a limit similar to that which must be respected in court, before a judge.

With respect to the last point, it is important to bear in mind that if certain points that are not within the framework of the agreement are put into dispute or are treated in some way controversy which gives rise to arbitration, then it must necessarily be annulled.

The final decision of an arbitrator must be substantiated; it is necessary that the reasons and motivations that lead to the making of the award can be arranged as logical pieces that explain and support the decision without the possibility of double interpretations and without giving rise to the suspicion of a favoritist attitude. The two parties to the litigation must see in the award a wise and respectable decision, which is based on the Justice and look for a transparent solution, based on equity.

The existence of awards and arbitrations goes back to antiquity, since these are resolution mechanisms that work independently of the judicial and social systems. The award has always allowed to resolve conflicts in a manner extrajudicial , with different scopes and guarantee.

It is possible to distinguish between various types of awards, such as law awards , the equity awards , the total awards , the partial awards and the final awards , for example.

He total award it is the one that manages to resolve all the points that gave rise to the litigation, while the partial It occurs when only one or some of the demand points receive a solution. He final award (or firm) is one in which all the controversial legal points that were submitted to the arbitral tribunal are found, as well as any decision that he has determined definitively on procedural matters or substances or of his competence and that he has qualified as an award.

A consented award has the purpose of raising a transaction involving two parties to an award; In other words, it seeks to give it an executive title. When one of the parties refuses to participate in the process and the arbitral tribunal has no choice but to do their job without their presence, there is talk of award in absentia.

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