568. Effect of the award.

568.     Effect of the award.

Unless otherwise agreed by the parties1, an award made by the arbitral tribunal2 pursuant to an arbitration agreement3 is final and binding4 both on the parties and on any persons claiming through or under them5. This does not affect the right of a person to challenge the award by any available arbitral process6 of appeal or review or in accordance with the provisions of Part I of the Arbitration Act 19967.