Section 27 Issuing the arbitration award

(1) The subject of the arbitration award is the decision on just and fair solutions as referred to in no. 11 of the Assessment Framework.

(2) The decision contains, in a standard form and structure, a description of the general course of the proceedings, the facts of the case, the parties’ applications and submissions, and a reasoned assessment. The arbitration panel is obligated to provide understandable and substantive reasons for its arbitration award. The reasoning must address all relevant submissions by the parties. The persecution of the party entitled to apply for arbitration or of the original owner is to be accorded the proper attention and respect.

(3) Before the arbitration award is issued, it is communicated to each of the parties in order to give them an opportunity to point out within five working days any inaccuracies or errors in the established facts of the case.

(4) The arbitration award has the effect on the parties of a final and binding court judgment.

(5) After the arbitration award has been issued, the parties may nonetheless agree on an arrangement derogating from the arbitration award, as long as no application for a declaration of the arbitration award’s enforceability has been made.