HB5888 Engrossed

LRB096 18807 AJO 35755 b





  
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    AN ACT concerning civil law.
  
 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:
  
 
 
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    Section 5. The Uniform Arbitration Act is amended  by 
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changing Section 8 as follows:
 



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    (710 ILCS 5/8)  (from Ch. 10, par. 108)



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    Sec. 8. Award. 

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    (a) The award shall be in writing and signed by the 
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arbitrators joining
in the award. The arbitrators shall deliver 
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a copy to each party personally
or by registered mail, or as 
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provided in the agreement.

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    (b) An award shall be made within the time fixed therefor 
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by the
agreement or, if not so fixed, within such time as the 
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court orders on
application of a party. The parties may extend 
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the time in writing either
before or after the expiration 
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thereof. A party waives the objection that
an award was not 
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made within the time required unless he notifies the

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arbitrators of his objection prior to the delivery of the award 
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to him.

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    (c) Rules applicable to substance of dispute. 
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        (i) The arbitrators shall decide the dispute in 
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    accordance with any rules of law that are chosen by the 
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    parties as applicable to the substance of the dispute. Any 
 


 






HB5888 Engrossed
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LRB096 18807 AJO 35755 b




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    designation of the law or legal system of a given 
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    jurisdiction shall be construed, unless otherwise 
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    expressed, as directly referring to the substantive law of 
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    that jurisdiction and not to its conflict of law rules. 
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        (ii) If the parties do not make a designation described 
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    in subsection (i) of this Section, the arbitrators shall 
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    apply the law as determined by the conflict of laws rules 
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    that they consider applicable. 
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        (iii) The arbitrators shall decide according to the 
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    strict rules of law unless the parties have expressly 
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    authorized some other standard. 
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        (iv) In all cases, the arbitrators shall decide in 
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    accordance with the terms of the contract and shall take 
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    into account the usages of the trade applicable to the 
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    transaction. 
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(Source: Laws 1961, p. 3844.)