Lawyers, other representatives, expert(s), tribunal’s secretary
Award of Arbitrators
WE, THE UNDERSIGNED ARBITRATORS, having been designated in accordance with the arbitration agreement entered into between the above-named parties and dated October 1, 2009, and having been duly sworn, and having duly heard the proofs and allegations of the Parties, do hereby, AWARD, as follows:
Pursuant to Rule 42 of the Commercial Arbitration Rules of the AAA, as the parties did not request a reasoned award, no reasoned award will be issued.
Respondent shall recover from Claimant the total sum of one hundred and thirty thousand dollars ($130,000.00) United States currency, which is inclusive of any interest to which they would be entitled. Claimant recovers zero dollars ($0.00) from Respondent. The administrative fees and expenses of the International Centre for Dispute Resolution totaling thirty four thousand five hundred dollars ($34,500.00) shall be borne as incurred. The compensation and expenses of the arbitrators shall be borne as incurred. This award is in full resolution of all claims and counterclaims, and all claims and counterclaims not expressly granted in this award are denied.
It is further ordered that Standby Letter of Credit No. GENOGA30132H for USD $3,000,000 issued for the benefit of Claimant is no longer required, shall be immediately released in full with all proceeds returned to Respondent, and Respondent shall be released and discharged from all further obligations under Standby Letter of Credit No. GENOGA30132H.
We hereby certify that, for the purposes of Article 1 of the New York Convention of 1958, on the Recognition and Enforcement of Foreign Arbitral Awards, this Final Award was made in Birmingham, Michigan, USA.
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