The award of the arbitrator shall be made in writing and either forwarded by mail to the successful party (and a signed copy thereof shall be forwarded to the other party or parties) or the arbitrator may advise the parties that the award may be picked up at some place determined by him.

In the event that the security moneys lodged with the Institute are less than that required to meet the costs of the award the arbitrator may withhold his award until a party pays in to the Institute the required balance of money at which time such party may pick up the award.

Rule 16

Institute Indemnification against damages