a) The Tribunal manifestly exceeded its powers;
b) The Award failed to state the reasons on which it is based; and
c) The Tribunal seriously departed from a fundamental rule of procedure.
"[I]n light of the assurances provided by Guatemala in its Request for the Continuation of the Stay of Enforcement that Guatemala would comply with the Award if it is not annulled, TECO does not oppose the stay of enforcement of the Award in the absence of Guatemala posting a bond, should the Committee consider such a stay to be appropriate in the circumstances. Accordingly, in Claimant's view, further submissions on the stay of enforcement requested by Guatemala are unnecessary. There is no basis, however, for the Committee to order Claimant to pay Respondents' costs in defending its request for the continuation of the stay of enforcement of the Award, as elaborated below."2 [emphasis added]
"The Committee may, if it considers that the circumstances so require, stay enforcement of the award pending its decision. If the applicant requests a stay of enforcement of the award in his application, enforcement shall be stayed provisionally until the Committee rules on such request."
"(1) The party applying for the interpretation, revision or annulment of an award may in its application, and either party may at any time before the final disposition of the application, request a stay in the enforcement of part or all of the award to which the application relates. The Tribunal or Committee shall give priority to the consideration of such a request.
(2) If an application for the revision or annulment of an award contains a request for a stay of its enforcement, the Secretary-General shall, together with the notice of registration, inform both parties of the provisional stay of the award. As soon as the Tribunal or Committee is constituted it shall, if either party requests, rule within 30 days on whether such stay should be continued; unless it decides to continue the stay, it shall automatically be terminated.
(3) If a stay of enforcement has been granted pursuant to paragraph (1) or continued pursuant to paragraph (2), the Tribunal or Committee may at any time modify or terminate the stay at the request of either party. All stays shall automatically terminate on the date on which a final decision is rendered on the application, except that a Committee granting the partial annulment of an award may order the temporary stay of enforcement of the unannulled portion in order to give either party an opportunity to request any new Tribunal constituted pursuant to Article 52(6) of the Convention to grant a stay pursuant to Rule 55(3).
(4) A request pursuant to paragraph (1), (2) (second sentence) or (3) shall specify the circumstances that require the stay or its modification or termination. A request shall only be granted after the Tribunal or Committee has given each party an opportunity of presenting its observations.
(5) The Secretary-General shall promptly notify both parties of the stay of enforcement of any award and of the modification or termination of such a stay, which shall become effective on the date on which he dispatches such notification."
"5. Subject to paragraph 6 and the applicable review procedure for an interim award, a disputing party shall abide by and comply with an award without delay.
6. A disputing party may not seek enforcement of a final award until:
(a) In the case of a final award made under the ICSID Convention
(i) 120 days have elapsed from the date the award was rendered and no disputing party has requested revision or annulment of the award; or
(ii) revision or annulment proceedings have been completed".
(1) The stay of enforcement of the Award shall continue in effect for the duration of these annulment proceedings;
(2) To reserve all other issues, including any question as to costs, to a further order or decision at the end of the annulment proceedings.
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