International Arbitration Act 1994 · 2020 Revised Edition · Part 2 · International Commercial Arbitration
18. Award by consent
Feedback & supportLast amended by an amending law of 2021. 2 amendments in all.
If the parties to an arbitration agreement reach agreement in settlement of their dispute and the arbitral tribunal has recorded the terms of settlement in the form of an arbitral award on agreed terms in accordance with Article 30 of the Model Law, the award —
arbitration agreement
“arbitration agreement” means an arbitration agreement mentioned in section 2A;
is to be treated as an award on an arbitration agreement; and
award
“award” means a decision of the arbitral tribunal on the substance of the dispute and includes any interim, interlocutory or partial award but excludes any order or direction made under section 12;
may, by permission of the General Division of the High Court, be enforced in the same manner as a judgment or an order to the same effect, and where permission is so given, judgment may be entered in terms of the award.