The FINALITY of an arbitral award - that the award shall be final and binding on the parties - is declared by which section of the Arbitration and Conciliation Act, 1996?

Explanation: Section 35 of the Arbitration and Conciliation Act declares that subject to Part I, an arbitral award shall be FINAL and binding on the parties and persons claiming under them. It is this finality that distinguishes arbitration as a binding, terminal adjudication, subject to the limited statutory challenge under Section 34. Section 32 governs termination of proceedings, Section 34 the setting aside of awards, and Section 36 the enforcement of the award once it becomes final and binding. The interplay of Sections 35 and 36 makes an unchallenged award directly executable like a decree.