Provisional Award Sample Clauses
A Provisional Award clause allows an arbitrator or tribunal to issue a temporary or interim decision before the final resolution of a dispute. This type of award can address urgent matters such as the preservation of assets, payment of interim sums, or the continuation of certain obligations while the main proceedings are ongoing. By enabling swift, temporary relief, the clause helps prevent harm or prejudice to parties during lengthy dispute resolution processes, ensuring that the final outcome is not undermined by delays.
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Provisional Award. 1. Where the Tribunal concludes that a measure in dispute breaches any of the provisions of Chapter 2 (Investment Protection), the Tribunal may, on the basis of a request from the claimant and after hearing the disputing parties, award, separately or in combination, only:
(a) monetary damages and any applicable interest; and
(b) restitution of property, in which case the award shall provide that the respondent may pay monetary damages and any applicable interest in lieu of restitution, determined in a manner consistent with the relevant provisions of Chapter 2 (Investment Protection). Where the claim was submitted on behalf of a locally established company, any award under this paragraph shall provide that:
(a) monetary damages and any applicable interest shall be paid to the locally established company; and
(b) any restitution shall be made to the locally established company. The Tribunal may not order the repeal of the treatment concerned.
2. Monetary damages shall not be greater than the loss suffered by the claimant or, as applicable, by its locally established company, as a result of the breach of any of the provisions of Chapter 2 (Investment Protection), reduced by any prior damages or compensation already provided by the Party concerned. For greater certainty, when an investor submits a claim on its own behalf, the investor may recover only loss or damage that the investor has incurred with regards to the covered investment of that investor.
3. The Tribunal may not award punitive damages.
4. The Tribunal shall order that the costs of the proceedings1 be borne by the unsuccessful disputing party. In exceptional circumstances, the Tribunal may apportion costs between the disputing parties if it determines that apportionment is appropriate in the circumstances of the case. Other reasonable costs, including reasonable costs of legal representation and assistance, shall be borne by the unsuccessful disputing party, unless the Tribunal determines that such apportionment is unreasonable in the circumstances of the case. Where only some parts of the claims have been successful the costs shall be adjusted, proportionately, to the number or extent of the successful parts of the claims. The Appeal Tribunal shall deal with costs in accordance with this Article.
5. The Committee may adopt supplementing rules on fees for the purposes of determining the maximum amount of costs of legal representation and assistance that may be borne by specific categories of unsu...
Provisional Award. 9.1 Where stipulated in the Award Letter this DPS Framework Agreement is a Provisional Award in respect of any specified Service Category and/or Service Line until provision of evidence satisfactory to the Authority that the Suppliers have discharged any condition precedent contained in an Award Letter including, for the avoidance of doubt, the execution of a Guarantee.
9.2 The Authority may, at its sole discretion and at any time, agree to waive compliance with a condition precedent specified in an Award Letter by giving the Suppliers notice in writing specifying the date on which the DPS Framework Agreement ceases to be a Provisional Award in respect of any specified Service Category.
9.3 Where the DPS Framework Agreement is a Provisional Award in respect of any Service Category in accordance with Clause 9.1 of this Schedule 1A of the DPS Framework Agreement, the Suppliers shall use all reasonable endeavours to satisfy any condition precedent specified in an Award Letter as soon as is possible. In the event that any condition precedent specified in an Award Letter is not satisfied within 6 (six) Months after the Commencement Date then, unless such condition precedent is waived by the Authority in accordance with Clause 9.2 of this Schedule 1A of the DPS Framework Agreement:
9.3.1 This DPS Framework Agreement shall, subject to Clause 9.5 of this Schedule 1A of the DPS Framework Agreement, automatically terminate; and
9.3.2 neither Party shall have any obligation to pay any compensation to the other Party as a result of such cessation.
9.4 The Suppliers shall consult with the Authority in relation to the steps they take to satisfy any condition precedent specified in an Award Letter and shall keep the Authority fully informed of their progress in satisfying any such condition precedent and of any circumstances which are likely to result in any such condition precedent not being satisfied by the date set out in Clause 9.3 of this Schedule 1A of the DPS Framework Agreement.
9.5 The Authority may in its absolute discretion extend the period in which any condition precedent specified in an Award Letter must be satisfied for the purposes of Clause 9.3 of this Schedule 1A of the DPS Framework Agreement by such period as it determines in its absolute discretion. The Suppliers shall use all reasonable endeavours to satisfy any condition precedent specified in an Award Letter as soon as is possible during any such extended period. In the event that any condition pr...
Provisional Award. Where the Tribunal concludes that a measure in dispute breaches any of the provisions of Chapter 2 (Investment Protection), the Tribunal may, on the basis of a request from the claimant and after hearing the disputing parties, award, separately or in combination, only: