Any Award made in any arbitration proceedings as aforesaid shall be final and binding on both Builder and Proprietor and neither party shall be entitled to commence or maintain any action upon any such dispute or difference until such matter shall have been referred or determined as hereinbefore provided, and then only for the amount of relief to which the Arbitrator, Arbitrators or Umpire by his or their award finds either party is entitled, and the costs of the submission, reference and award shall be in the discretion of the said Arbitrator, Arbitrators or Umpire.