An Arbitration Award is a formal decision made by an arbitrator or a panel of arbitrators after reviewing the evidence and arguments presented by the parties involved in a dispute. This award serves as a resolution to the conflict and is legally binding, meaning that the parties must comply with its terms. Once the arbitration process is complete, the award is typically documented in writing and delivered to both parties. If one party fails to adhere to the award, the other party may seek enforcement through the courts, ensuring that the decision is upheld and implemented.