Section 7508. Award by confession

(a)  When  available.  An  award  by
  confession may be made for money due or to become due at any time before
  an award is otherwise made. The award shall be based upon  a  statement,
  verified  by  each party, containing an authorization to make the award,
  the sum of the award or the method of ascertaining  it,  and  the  facts
  constituting the liability.
    (b)  Time  of  award.  The  award may be made at any time within three
  months after the statement is verified.
    (c) Person or agency making award.   The  award  may  be  made  by  an
  arbitrator  or by the agency or person named by the parties to designate
  the abitrator.