The question is to distinguish between fraud in the decision that is a grounds for appealing an arbitrator's decision and a claim of fraud, for example misrepresenting the nature of investments.

my answer would be

Fraud in the decision, could compel an illegal act, or a result of corruption, bribe, , the arbitrator refused to postpone

The hearing despite sufficient cause. The arbitrator refused to hear material evidence or the arbitrator exceeded his or her powers.

A claim of fraud is just what some one believes based on no evidence.

Is this right?