Contractor XYX and the Province of Tawi-Tawi, as Project Owner, had a construction dispute. Pedro was Claiming for the return of Retention Money equivalent to P5,000,000.00 inclusive of Arbitration Fees, Attorney’s Fees and Moral Damages. The project owner made a Counterclaim in the total amount of P7,000,000.00 representing damages for defective works, damages for delay (Liquidated Damages) as well as Moral Damages, Exemplary Damages, Arbitration Fees and Attorney’s Fees. XYZ filed the Case before the CIAC on August 17, 2021. After 115 Days, or today December 10, 2021, the Construction Arbitral Tribunal ruled that the Contractor is entitled to a Total of P3,000,000.00. The Award is with interest until the Award is paid. a. In the imposition of interest, what do you think was the rate of interest AND what will the reckoning date of interest: From the Date of filing of the case or From the Date of Tribunal Award? Briefly state your reason. If the Government did not make any further legal steps and opted to pay after 200 Days from the date of Award, how much will be the total amount due from the Government? Why?

Contractor XYX and the Province of Tawi-Tawi, as Project Owner, had a construction dispute. Pedro was Claiming for the return of Retention Money equivalent to P5,000,000.00 inclusive of Arbitration Fees, Attorney’s Fees and Moral Damages. The project owner made a Counterclaim in the total amount of P7,000,000.00 representing damages for defective works, damages for delay (Liquidated Damages) as well as Moral Damages, Exemplary Damages, Arbitration Fees and Attorney’s Fees. XYZ filed the Case before the CIAC on August 17, 2021. After 115 Days, or today December 10, 2021, the Construction Arbitral Tribunal ruled that the Contractor is entitled to a Total of P3,000,000.00. The Award is with interest until the Award is paid. a. In the imposition of interest, what do you think was the rate of interest AND what will the reckoning date of interest: From the Date of filing of the case or From the Date of Tribunal Award? Briefly state your reason. If the Government did not make any further legal steps and opted to pay after 200 Days from the date of Award, how much will be the total amount due from the Government? Why?