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(1)A tribunal’s award is final and binding on the parties and any person claiming through or under them (but does not of itself bind any third party).
(2)In particular, an award ordering the rectification or reduction of a deed or other document is of no effect in so far as it would adversely affect the interests of any third party acting in good faith.
(3)This section does not affect the right of any person to challenge the award—
(a)under Part 8 of the Scottish Arbitration Rules, or
(b)by any available arbitral process of appeal or review.
(4)This section does not apply in relation to a provisional award (see rule 53), such an award not being final and being binding only—
(a)to the extent specified in the award, or
(b)until it is superseded by a subsequent award.
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Text created by the Scottish Executive department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills
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