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CAF-4 · Chapter 15 · Question 6 of 9

If the appointed arbitrators allow their time to expire without making an award, what is the immediate legal consequence?

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Reveal answer & explanation

Correct answer: B) The umpire shall forthwith enter on the reference in lieu of the arbitrators.

Explanation

If the arbitrators' time expires without an award, or they notify that they cannot agree, the umpire takes over the reference in lieu of the arbitrators to make the decision.

All 9 questions in Chapter 15Anti-money laundering and electronic payments MCQs with answers

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