Arbitration – Award. The parties entered into agreements by which the defendant was to act as a global placement agent for the claimant, with a view to raising capital for claimant's real estate fund. The claimant purported to terminate the agreements for alleged breach by the defendant. A dispute over the payment of fees to the defendant was referred to arbitration. The arbitration tribunal considered a post-hearing submission by defendant and found its favour. The claimant appealed under s 68 of the Arbitration Act 1996. The Commercial Court, allowing the appeal in part, held that the tribunal had erred in dealing with an issue of which the claimant had had no notice and no opportunity to address.