An interim award is a determination by the tribunal on a specific issue or a part of the claim before the final award is rendered. Unlike "interim measures" (which are temporary protections), an interim award is a final determination of the specific point it addresses.
Section 2(1)(c) of the Arbitration and Conciliation Act, 1996 states that an "arbitral award" includes an interim award. Section 31(6) empowers the tribunal to make an interim award on any matter with respect to which it may make a final award.
Characteristics: It is enforceable in the same manner as a final arbitral award. It may deal with issues like liability (leaving the calculation of damages for later) or a specific time-barred claim.
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