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Definition for: "Award"

The decision of arbitrators in giving moneys to a party who has claimed damages; the awarding of money to a worker injured during the course of his work. This latter award is said to be a compensation award.

1) n. the decision of an arbitrator or commissioner (or any non-judicial arbiter) of a controversy. 2) v. to give a judgment of money to a party to a lawsuit, arbitration, or administrative claim. Example: "Plaintiff is awarded $27,000."

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