In Brief
This case concerns an Arbitrator's power to award pendente lite interest (interest during the pendency of arbitration) when a construction contract bars the payment of interest. The Supreme Court held that if a contract expressly prohibits pendente lite interest, the Arbitrator cannot award it. However, a general bar on interest for delayed payment does not automatically bar pendente lite interest. The Court must examine the specific language of the contract clause, the nature of claims referred, and the periods covered. The judgment clarifies prior conflicting decisions, holding that where the contract is silent on interest, interest is presumed as an implied term and the Arbitrator has discretion to award pendente lite interest based on all circumstances and justice considerations.",
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