The fourth Module concerns the last stages of arbitral proceedings, the award. In the first part participants learn about the closure of proceedings and the making of the award. Questions covering the deliberations among the arbitral tribunal, the drafting and the signing of the award, the notification of the award as well as truncated tribunals and dissenting arbitrators are discussed. Money matters: the allocation of the costs of the arbitration also forms an important part of the discussions. From the counsel's perspective the drafting of requests for correction and interpretation of the award and from the tribunal's perspective their adjudication are addressed. Settlement or other grounds for termination of arbitral proceedings are also dealt with.
The second part concerns the enforcement of the award. Participants learn where and how to enforce an award, or, conversely, how to resist enforcement of an award. Hotly debated issues like the enforceability of awards which were annulled at the place of arbitration are also addressed.
The third part covers the challenge of the award. The focus is on jurisdiction, the grounds and other procedural issues regarding the challenge of an award. Participants also learn that the finality of arbitral awards may not have the same bearing in all jurisdictions. Additionally whether arbitral tribunals can reconsider their awards based on new facts or new evidence which was discovered by a party after the award was rendered is also discussed.