The arbitral tribunal may correct, on its own initiative, any inaccuracies in the award or any typographical or computational errors as well as any other obvious mistakes, within one month after issuing the award.
Either party, with notice to the other party, may request the arbitral tribunal to make such corrections or provide an interpretation of the award. The requests must be addressed to the tribunal within two weeks of receipt of the award, unless the parties have agreed on some other period. The tribunal should issue a decision within two weeks after receiving the request.
If necessary, the arbitral tribunal may extend the time provided for correction, interpretation, or issuance of an additional award.
It often happens that the plans for a project are modified after a decision on environmental conditions is issued but before issuance of a permit for the project itself (e.g. the building permit). Is it necessary to amend the environmental decision?
read furtherWhen a company has been issued an environmental permit, e.g. to release particles into the atmosphere, may it freely assign its rights under the permit?
read furtherInterest in arbitration is growing, due to its effectiveness, professionalism, confidentiality and speed—particularly important benefits for businesses. But the parties do not always take full advantage of the possibilities.
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