Write short notes on: (v) Arbitral Award for industrial disputes

Arbitration award implies the final decision or settlement or decree, with reference to an Industrial Dispute. Whether the dispute is before Labour Court or Industrial Tribunal or National Tribunal the parties can go to arbitration by the written agreement. The arbitrators conduct the investigation into the disputed matters and give arbitration award. Every Arbitration award shall be in writing and signed by the Arbitrator(s) and every award of a Labour Court or Tribunal or National Tribunal shall be in writing, signed by its presiding officer and published in such manner as the Central Government thinks fit. The award published shall be final and enforceable on the expiry of thirty days from the date of its publication.