Interest on Arbitration Award Sample Clauses

Interest on Arbitration Award. Where the arbitral award is for the payment of money, interest @ 15% per annum shall be payable on whole or any part of the money for the period it is accrued, till the date on which the award is made.
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Interest on Arbitration Award. Where the arbitral award is for the payment of money, no interest shall be payable on whole or any part of the money for any period, till the date on which the award is made.

Related to Interest on Arbitration Award

  • Step 4 - Arbitration If no settlement has been reached in Step 3, the grievance may be submitted to arbitration within ten (10) calendar days of receipt of the superintendent’s decision. The Employer and the Council shall immediately thereafter select an arbitrator to hear the dispute. If the Employer and the Council are not able to agree upon an arbitrator within ten (10) workdays after receipt by the Employer of the demand for arbitration, the parties may request a list of five

  • Step Four - Arbitration 15.6.1. If a grievance is not resolved at Step Three, the Association may request a hearing before an arbitrator. The request shall be filed in the Human Resource Services Division or designee within fifteen (15) workdays after the written decision of the division representative becomes effective.

  • Arbitration Award All arbitration awards shall be final and binding as provided by Section 42 of the Trade Union Act. An arbitrator may not alter, modify or amend any part of this Agreement, but shall have the power to modify or set aside any unjust penalty of discharge, suspension or discipline imposed by the Employer on an Employee.

  • Level Four - Arbitration A. If the Association is not satisfied with the disposition of the grievance at the Board level, it may within ten (10) days after the decision of the Board refer the matter for arbitration to the American Arbitration Association by filing a written demand for arbitration and request the appointment of an arbitrator to hear the grievance. If the parties cannot agree upon an arbitrator, he shall be selected in accordance with the rules of the American Arbitration Association.

  • Mediation/Arbitration All disputes arising out of this Agreement shall be resolved as set forth in this Section 14. If any party hereto desires to make any claim arising out of this Agreement ("Claimant"), then such party shall first deliver to the other party ("Respondent") written notice ("Claim Notice") of Claimant's intent to make such claim explaining Claimant's reasons for such claim in sufficient detail for Respondent to respond. Respondent shall have ten (10) business days from the date the Claim Notice was given to Respondent to object in writing to the claim ("Notice of Objection"), or otherwise cure any breach hereof alleged in the Claim Notice. Any Notice of Objection shall specify with particularity the reasons for such objection. Following receipt of the Notice of Objection, if any, Claimant and Respondent shall immediately seek to resolve by good faith negotiations the dispute alleged in the Claim Notice, and may at the request of either party, utilize the services of an independent mediator. If Claimant and Respondent are unable to resolve the dispute in writing within ten (10) business days from the date negotiations began, then without the necessity of further agreement of Claimant or Respondent, the dispute set forth in the Claim Notice shall be submitted to binding arbitration (except for claims arising out of Sections 3 or 7 hereof), initiated by either Claimant or Respondent pursuant to this Section. Such arbitration shall be conducted before a panel of three (3) arbitrators in Tampa, Florida, in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association ("AAA") then in effect provided that the parties may agree to use arbitrators other than those provided by the AAA. The arbitrators shall not have the authority to add to, detract from, or modify any provision hereof nor to award punitive damages to any injured party. The arbitrators shall have the authority to order back-pay, severance compensation, vesting of options (or cash compensation in lieu of vesting of options), vesting and the removal of restrictions on restricted stock and/or restricted stock units (or comparable forms of equity compensation, if any) that, as of the effective date of the termination of Executive, are not then subject to any performance conditions for vesting, reimbursement of costs, including those incurred to enforce this Agreement, and interest thereon in the event the arbitrators determine that Executive was terminated without disability or without Good Cause, as defined in Sections 4(b) and 4(c) hereof, respectively, or that the Company has otherwise materially breached this Agreement. A decision by a majority of the arbitration panel shall be final and binding. Judgment may be entered on the arbitrators' award in any court having jurisdiction. The direct expense of any mediation or arbitration proceeding and, to the extent Executive prevails, all reasonable legal fees shall be borne by the Company.

  • Cost of Arbitration The fees for a single Arbitrator or a Chair of a Board of Arbitration shall be shared equally by the parties. Other costs incurred by each party shall be the responsibility of that party.

  • Selection of an Arbitrator The parties will reach agreement on a mutually acceptable arbitrator as needed. If agreement cannot be obtained between the parties then either party can apply to the Minister of Labour to have an arbitrator appointed.

  • Rules of Arbitration 1. Within 10 working days of receipt of the Federation's notice of its intent to arbitrate a grievance, the Federation shall call upon the Federal Mediation and Conciliation Service for a list of five potential arbitrators. The federation will provide the employer with a simultaneous copy of the arbitration panel request.

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