(1) The arbitral award shall be made in writing and shall be signed by the arbitrator or arbitrators. In arbitral proceedings with more than one arbitrator, the signatures of the majority of all the members of the arbitral tribunal shall suffice so long as the reason for any omitted signature is stated.
(2) The arbitral award shall state the reasons upon which it is based, unless the parties have agreed that no reasons are to be given or the award is an arbitral award on agreed terms under ORS 36.512.
(3) The arbitral award shall state its date and the place of arbitration as determined in accordance with ORS 36.492 (1) and the award shall be considered to have been made at that place.
(4) After the arbitral award is made, a copy signed by the arbitrators in accordance with subsection (1) of this section shall be delivered to each party.
(5) The arbitral tribunal may, at any time during the arbitral proceedings, make an interim arbitral award on any matter with respect to which it may make a final arbitral award. The interim award may be enforced in the same manner as a final arbitral award.
(6) Unless otherwise agreed by the parties, the arbitral tribunal may award interest.
(7)(a) Unless otherwise agreed by the parties, the costs of an arbitration shall be at the discretion of the arbitral tribunal.
(b) In making an order for costs, the arbitral tribunal may include as costs any of the following:
(A) The fees and expenses of the arbitrators and expert witnesses.
(B) Legal fees and expenses.
(C) Any administration fees of the institution supervising the arbitration, if any.
(D) Any other expenses incurred in connection with the arbitral proceedings.
(c) In making an order for costs, the arbitral tribunal may specify any of the following:
(A) The party entitled to costs.
(B) The party who shall pay the costs.
(C) The amount of costs or the method of determining that amount.
(D) The manner in which the costs shall be paid. [1991 c.405 §34]Section: Previous 36.500 36.502 36.504 36.506 36.508 36.510 36.512 36.514 36.516 36.518 36.520 36.522 36.524 36.526 36.528 Next
Last modified: August 7, 2008