"(2) The Tribunal upon the request of a party made within 45 days after the date on which the award was rendered may after notice to the other party decide any question which it had omitted to decide in the award, and shall rectify any clerical, arithmetical or similar error in the award. Its decision shall become part of the award and shall be notified to the parties in the same manner as the award. The periods of time provided for under paragraph (2) of Article 51 and paragraph (2) of Article 52 shall run from the date on which the decision was rendered."
"(1) Within 45 days after the date on which the award was rendered, either party may request, pursuant to Article 49(2) of the Convention, a supplementary decision on, or the rectification of, the award. Such a request shall be addressed in writing to the Secretary-General. The request shall:
(a) identify the award to which it relates;
(b) indicate the date of the request;
(c) state in detail:
(i) any question which, in the opinion of the requesting party, the Tribunal omitted to decide in the award; and
(ii) any error in the award which the requesting party seeks to have rectified; and
(d) be accompanied by a fee for lodging the request."
"[I]ssue an award finding liability, awarding damages to claimants in the amount requested by claimants, updating the damages from the 2001 U.S. Dollar figure to date, add the cost [of] capital or appropriate interest rate and awarding arbitration costs to claimants."4
The Respondent opposes Claimants’ Request since in its view the Claimants seek to reopen a substantive debate about a matter already decided by the Tribunal. The specific rectification requested by the Claimants is not concerned with clerical, arithmetical or similar errors as envisaged by Article 49(2) of the Convention, least with minor technical errors of the kind addressed in various ICSID decisions confronted with rectification requests.8 Consequently, the Respondent contends that the Claimants’ Request is inadmissible.
"Claimants are entitled to interest at commercially reasonable rates... Pre-award interest compensates a successful claimant for two forms of loss: the time value of money and the lost opportunity to earn a reasonable rate of return."19
"(12) Article 38 does not deal with post-judgment or moratory interest. It is only concerned with interest that goes to make up the amount that a court or tribunal should award, i.e. compensatory interest. The power of a court or tribunal to award post-judgment interest is a matter of its procedure."29
"The only reason Claimants mentioned pre-award interest specifically is because in the US, for example, judges have discretion to calculate a higher level of pre-judgment interest, whereas post-judgment interest is mandatory and set by statute (and thus, is not normally a matter that needs to be briefed and requested separately). Given this traditional distinction in certain domestic legislation, Claimants deemed it relevant specifically to mention pre-award interest, but this lone reference to pre-award interest was not to the exclusion of post-award interest, which would be an illogical construction of Claimants’ Memorials and Prayers and the request in their opening statement."32
(1) Reject the Request for Rectification and/or a Supplementary Decision of the Award;
(2) Order the Claimants to pay in full the costs of this proceeding, including the fees and expenses of the Centre and the Members of the Tribunal; and
(3) Determine that each party shall bear its own legal costs.
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