8.01-581.07 - Award; fees and expenses to be fixed. - Virginia Statutes

§ 8.01-581.07. Award; fees and expenses to be fixed.

The award shall be in writing and signed by the arbitrators joining in theaward. The arbitrators shall deliver a copy to each party personally or byregistered mail, or as provided in the agreement.

An award shall be made within the time fixed therefor by the agreement or, ifnot so fixed, within such time as the court orders on application of a party.The parties may extend the time in writing either before or after theexpiration thereof. A party waives the objection that an award was not madewithin the time required unless he notifies the arbitrators of his objectionprior to the delivery of the award to him. Unless otherwise provided in theagreement to arbitrate, the arbitrators' expenses and fees incurred in theconduct of the arbitration, and all other expenses, not including counselfees, shall be paid as provided in the award.

(1986, c. 614.)