§ 50-51. Award; costs. - North Carolina Statutes

§ 50‑51.  Award; costs.

(a)        The award shall bein writing, dated and signed by the arbitrators joining in the award, with astatement of the place where the arbitration was conducted and the place wherethe award was made. Where there is more than one arbitrator, the signatures ofa majority of the arbitrators suffice, but the reason for any omitted signatureshall be stated. The arbitrators shall deliver a copy of the award to eachparty personally or by registered or certified mail, return receipt requested,or as provided in the parties' written agreement. Time of delivery shall becomputed from the date of personal delivery or date of mailing.

(b)        Unless the partiesotherwise agree in writing, the award shall state the reasons upon which it isbased.

(c)        Unless the partiesotherwise agree in writing, the arbitrators may award interest as provided bylaw.

(d)        The arbitrators intheir discretion may award specific performance to a party requesting an awardof specific performance when that would be an appropriate remedy.

(e)        Unless the partiesotherwise agree in writing, the arbitrators may not award punitive damages. Ifarbitrators award punitive damages, they shall state the award in a record andshall specify facts justifying the award and the amount of the awardattributable to punitive damages.

(f)         Costs:

(1)        Unless the partiesotherwise agree in writing, awarding of costs of an arbitration shall be in thearbitrators' discretion.

(2)        In making an awardof costs, the arbitrators may include any or all of the following as costs:

a.         Fees and expenses ofthe arbitrators, expert witnesses, and translators;

b.         Fees and expenses ofcounsel, to the extent allowed by law unless the parties otherwise agree inwriting, and of an institution supervising the arbitration, if any;

c.         Any other expensesincurred in connection with the arbitration proceedings;

d.         Sanctions awarded bythe arbitrators or the court, including those provided by N.C.R. Civ. P. 11 and37; and

e.         Costs allowed byChapters 6 and 7A of the General Statutes.

(3)        In making an awardof costs, the arbitrators shall specify each of the following:

a.         The party entitledto costs;

b.         The party who shallpay costs;

c.         The amount of costsor method of determining that amount; and

d.         The manner in whichcosts shall be paid.

(g)        An award shall bemade within the time fixed by the agreement. If no time is fixed by theagreement, the award shall be made within the time the court orders on aparty's application. The parties may extend the time in writing either beforeor after the expiration of this time. A party waives objection that an awardwas not made within the time required unless that party notifies thearbitrators of his or her objection prior to delivery of the award to thatparty. (1999‑185,s. 1; 2005‑187, s. 10.)