An institutional arbitration award possesses the nature of a judicial determination and constitutes a contractual derogation from the jurisdiction of the ordinary judge, producing from the date of its final execution the effects of a judgment pronounced by the judicial authority pursuant to article 824-bis of the Code of Civil Procedure.
The executive efficacy of the institutional arbitration award is subordinate to the homologation procedure under article 825 of the Code of Civil Procedure before the Court sitting in collegial composition, whereas the constitutive effects and effects of determination constitute the natural consequence of the issuance of the award.
For the purposes of enforcement, the institutional arbitration award constitutes an enforceable title endowed with the requirement of certainty when the subjective right is determinable in accordance with the elements indicated in the award itself, which determines it in a conclusive manner, even in the presence of conditional formulations provided that the condition is satisfied by the overall tenor of the arbitral decision.