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Section 33(1) of the Act allows a party, with notice to the other party, to request the arbitral tribunal to correct any computation errors, clerical errors, typographical errors or similar errors in the award within:
A{'text': '3 years from the receipt of the arbitral award in every case regardless of any agreement of the parties under any provision of any law in force in any State of India', 'label': 'A'}
B{'text': '6 months from the receipt of the arbitral award in every case regardless of any agreement of the parties under any provision of any law in force in any State of India', 'label': 'B'}
C{'text': '1 year from the receipt of the arbitral award in every case regardless of any agreement of the parties under any provision of any law in force in any State of India', 'label': 'C'}
D{'text': '30 days from the receipt of the arbitral award, unless another period has been agreed upon by the parties', 'label': 'D'}
Answer & Solution
Correct answer: D. {'text': '30 days from the receipt of the arbitral award, unless another period has been agreed upon by the parties', 'label': 'D'}
1. Section 33(1) of the Act prescribes the correction-of-award window.
2. Within **30 days from the receipt** of the arbitral award (unless another period is agreed), a party may request: (a) correction of any computation/clerical/typographical errors; or (b) an interpretation of a specific point or part of the award.
3. Section 33(2) requires the tribunal to act within 30 days of receipt of the request.
4. Section 33(4) permits a separate request, within 30 days, for an **additional arbitral award** as to claims presented but omitted from the award.
_Source: ICSI CS Executive Paper 1 — Jurisprudence, Interpretation & General Laws, Lesson 13 (Arbitration and Conciliation Act, 1996), pp. 314-333._
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