117. An arbitration award is in lieu of a homologated agreement; it is executory on the date indicated therein and is binding on the interested parties until, at the request of one of the parties and after giving the other parties the opportunity to present observations, the Régie considers it expedient to suspend the application of the award or to terminate or amend it.
When the Régie makes an arbitration award, it may, at the request of one of the interested parties, include a penalty payable by any party bound by the award who does not comply with the obligations it contains and provide that the penalty be used for specific purposes. It may also require the payment of annual interest at the rate it sets. The Régie bases the penalty on, in particular, the volume, mass, quantity or value of the product marketed, or the area under cultivation or operation.
1990, c. 13, s. 117; 1997, c. 43, s. 388; 1999, c. 50, s. 26; 2011, c. 28, s. 3.