Awards, done in New York, United States of America, on June 10, 1958. The Umpire shall fix the date and venue to convene the arbitral tribunal. The arbitral tribunal shall deter- mine the date and venue of subsequent proceedings. The English language shall be used throughout the arbitral proceedings; (d) the arbitral tribunal shall determine all questions of procedure and questions relating to its competence (subject to the provisions of this Section and except as the parties shall otherwise agree); (e) the tribunal shall accord the parties a fair hearing and make all decisions based on a majority vote. The award of the tribunal, which shall be in writing and may be rendered even if one party defaults, shall be final and binding on both parties to the proceedings. The parties shall each be provided with a signed counterpart of the award and shall take all necessary actions to comply with the award; (f) service of any notice or process in connection with any proceedings under this Article or in connection with proceedings to enforce an award rendered pursuant to this Article shall be made in accordance with the provisions of Section 11.03; (g) the parties shall fix the remuneration of members of the tribunal and any persons required or retained for the conduct of the proceedings. Where they fail to agree before the tribu- nal convenes, the tribunal shall fix the remuneration based on what is reasonable under the circumstances. The arbitral tribunal shall decide on whether the cost of arbitration, including the remuneration, shall be borne by either or both parties to the proceedings and the procedure for payment of such costs. Each party shall however defray its own expenses; (h) if the arbitral award is not complied with within thirty (30) days after the signed counter- part is delivered, the party seeking enforcement may: (i) enter judgment upon the award or institute a proceeding to enforce it in any court of competent jurisdiction against the non-complying party; (ii) enforce the award by execution; (iii) pursue any other appropriate remedy against the non-complying party for the enforcement of the award and of the provisions of the Legal Agreement.
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Article 11 MISCELLANEOUS
11.01 Execution of the Legal Agreement (a) Each Legal Agreement shall be executed through an appropriate arrangement agreed by the parties. (b) Execution may be in original form or by Electronic Means, subject to applicable laws of the Borrower or Guarantor on execution of such instruments. A Legal Agreement exe- cuted by Electronic Means shall be deemed an original and shall have the same legal force and effect as any agreement executed in original form.
OPEC FUND GENERAL CONDITIONS FOR PUBLIC SECTOR LOANS
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