Discretionary Power of Arbitration in Awarding Interest: Is it unfettered?
Mayank Bhageria[i] Introduction Arbitrators have the discretionary authority in granting interest if it seems that the arbitral award is for the payment of money. It can be pendente lite, pre-reference or post-award interest. Arbitrators do not only have the power to award interest but they can also determine the rate of interest. Although arbitrators have the discretionary power in awarding interest on the whole or part of the money awarded and determining the rate, at the s