The act or process of awarding; the thing awarded.
From award + -ment suffix (forming nouns from verbs, indicating an action or result). Common pattern in English: judge→judgment, award→awardment.
The suffix '-ment' is one of English's most productive—it turns almost any verb into a noun representing the action or result, which is why we can invent words like 'awardment' and everyone understands instantly.
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