Common use of Award Final and Binding Clause in Contracts

Award Final and Binding. The parties agree that the decision or award of the arbitrator shall be final and binding on each of the parties. The arbitrator derives authority wholly and exclusively from this Agreement. The decision of the arbitrator shall be issued within thirty (30) days of the close of the hearing unless the parties have agreed to additional time. The decision of the arbitrator shall be in writing and shall set forth the findings of fact, reasoning, and conclusions on the issues submitted.

Award Final and Binding. The parties agree that the decision or award of the arbitrator shall be final and binding on each of the parties. The arbitrator derives authority wholly and exclusively from this Agreement. The decision of the arbitrator shall be issued within thirty (30) days of after the close of the due date for post-hearing briefs unless the parties have agreed to additional timeadditionaltime. The decision of the arbitrator shall be in writing and shall set forth the findings of factoffact, reasoning, reasoning and conclusions on the issues submitted.