what is the difference b/w Arbitration and Award

Querist : Anonymous (Querist) 24 February 2011 This query is : Resolved
Dear Learned members
let me know what is the difference between arbitration and award

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Guest (Expert) 24 February 2011
Arbitration is a form of alternative dispute resolution (ADR), as a legal technique for the resolution of disputes outside the courts, wherein the parties to a dispute refer it to one or more persons (the "arbitrators", "arbiters" or "arbitral tribunal"), by whose decision (the "award") they agree.

In other words, arbitration is the process of hearing to arrive at an agreeable solution, while award is the judgment or the solution provided by the arbitrator.

PS Dhingra
Chief Executive Officer
Dhingra Group of Management & Vigilance Consultants
New Delhi-110089
Mobile: 09968076381
[dcgroup1962@gmail.com]

Parveen Kr. Aggarwal (Expert) 24 February 2011
Arbitration is the proceeding and award is its decision.

Advocate Bhartesh goyal (Expert) 28 February 2011
Yes,Arbitation is proceeding and Award is judgement.

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