Interim Award

A final decision on a preliminary legal issue of substance or a procedural issue – finality is the crucial aspect of an interim award as opposed to say an Emergency Arbitration award which, under many rules, can be varied when the full arbitration is completed. An interim award can, if not carefully drafted, render an arbitration tribunal functus officioprecluding correction or revision if the rest of the arbitral proceeding shows it to be improvidently granted – which is why arbitral tribunals are often resistant to granting interim awards. And interim award is distinct from a partial award – the latter awards a substantive part of the relief sought by one of the parties – e.g., some of the monetary damages claimed.

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