The correct answer is Option (1) → Arbitral Award
The decision rendered by an arbitrator in an arbitration proceeding is referred to as an "Arbitral Award."
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Judgment: A judgment is a formal decision made by a court regarding the rights and liabilities of parties in a legal case. It concludes the legal proceedings in a court of law and is usually based on the application of law to the facts of the case.
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Decree: A decree is a specific type of order issued by a court that has the effect of concluding a legal proceeding. In civil cases, it refers to the final decision of the court that determines the rights of the parties involved. Decrees can be absolute (final) or interim (temporary).
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Order: An order is a directive issued by a court or a judge. It can relate to various aspects of a case, including procedural matters or interim relief. Unlike a judgment or decree, an order does not necessarily resolve the main issue of a case but may address specific requests or motions made by the parties.
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