Arbitration Awards On The Clock: Legal And Practical Implications Of Delayed Awards

1. Introduction: The Broken Promise of Speed

Arbitration has long been heralded as the faster, more flexible alternative to litigation. Parties choose it to avoid the procedural labyrinths and backlog of national courts, expecting a swift resolution delivered by subject-matter experts. Yet in practice, arbitration often fails to live up to this promise. Tribunals may take months, or even years, after the close of hearings to deliver their awards. These delays not only frustrate commercial expectations but also raise serious legal questions: when does the limitation period to challenge or enforce an award begin? Does excessive delay undermine the validity of the award itself? And can delay amount to a violation of public policy?