Law of Arbitration

1. The arbitration tribunal shall, pursuant to its own decision or upon a request by either party, rectify any material errors in its award, whether in text or in calculation. The rectification shall be carried out without pleadings within 15 days following the date of rendering the award or of submitting the petition for rectification, as the case may be. 2. The rectification shall be issued by the arbitration tribunal in writing and both parties shall be notified of the same within 15 days from its date of issuance. If the arbitration tribunal exceeds its power in rectification, the decision of the tribunal may be nullified by an action for nullification subject to the provisions of Articles 50 and 51 of this Law.