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what is the difference b/w Arbitration and Award

Querist : Anonymous (Querist) 12 April 2011 This query is : Resolved 
what is the difference b/w Arbitration and Award?
Raj Kumar Makkad (Expert) 12 April 2011
Arbitration is an act vide which either of both the disputing parties approach an authority already decided to settle their dispute and award of arbitration means decision delivered by such arbitrator.
Naresh Kudal (Expert) 13 April 2011
Arbitration means effort of settlement of the matter among parties and if arbitration succeeds, award is made.


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