33FInterest on debt under award

#### 33F Interest on debt under award 33F Interest on debt under award > > (1) This section applies if: > > > > > (a) an arbitral tribunal makes an award for the payment of an amount of money, and > > > > > (b) under the award, the amount is to be paid by a particular day (the due date), > > > > unless otherwise agreed by the parties. > > > (2) The arbitral tribunal may direct that interest, including compound interest, is payable if the amount is not paid on or before the due date. > > > (3) The arbitral tribunal may set a reasonable rate of interest. > > > (4) The interest is payable: > > > > > (a) from the day immediately following the due date, and > > > > > (b) on so much of the money as remains unpaid. > > > (5) The direction is taken to form part of the award. > > Note— > > There is no equivalent to this section in the Model Law.