560. Interest awarded by arbitral tribunal.

The parties1 are free to agree on the powers of the arbitral tribunal2 as regards the award of interest3. Unless otherwise agreed by the parties, the tribunal may award4:


    (1)     simple or compound interest from such dates, at such rates, and with such rests, as it considers meets the justice of the case5 (a) on the whole or part of any amount awarded by the tribunal6, in respect of any period up to the date of the award7; (b) on the whole or part of any amount claimed in the arbitration and outstanding at the commencement of the arbitral