Under the Arbitration and Conciliation Act, the aggrieved party can file an application to set aside the award. Where no application is filed within 30 days, the award holder can file for enforcement of the award under the Civil Procedure Code.

Is arbitral award final and binding?

An “arbitral award” is the decision made by the majority members of an arbitral tribunal, which is final and binding on the parties. Section 35 provides that an arbitral award shall be “final and binding” on the parties and persons claiming under them.

Is an arbitration award a judgment?

The arbitrator's final decision on the case is called the “award.” This is like a judge's or jury's decision in a court case. ... Under AAA rules, parties to AAA cases agree that the arbitration award can be entered as a judgment in any federal or state court with jurisdiction.