Which of the following statements is true about an award in arbitration?
A) An arbitrator's decision is called an award only if monetary compensation is given.
B) An arbitrator must cite precedents for the award.
C) An award does not have to state any findings of fact or conclusions of law.
D) An arbitrator strictly applies a rule of law while arriving at a decision.

Question

Quizplus · Accepted Answer

An arbitrator's award does not have to state any findings of fact or conclusions of law. It simply states the decision made by the arbitrator. Precedents may be considered by the arbitrator, but it is not mandatory for them to cite them in the award. The arbitrator may apply a rule of law, but they are also allowed to consider other factors and circumstances in arriving at their decision. The award may or may not include monetary compensation.

Which of the Following Statements Is True About an Award